Current Attempt in Progress Sunland Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,168,400 for 50,800 shares. Kulikowski Inc. declared and paid an $0.75 per share cash dividend on June 30 and on December 31.2021. Kulikowski reported net income of $663,000 for 2021. The fair value of Kulikowski's stock was $26 per share at December 31, 2021. Your answer is correct. Prepare the journal entries for Sunland Inc. for 2020 and 2021, assuming that Sunland cannot exercise significant influence over Kulikowski. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Dec. 31,2020 Equity Investments Cash June 30, 2021 Cash Dividend Revenue Debit 1168400 38100 Credit Prepare the journal entries for Sunland Inc. for 2020 and 2021, assuming that Sunland can exercise significant influence over Kulikowski. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required. select "No Entry" for the account titles and enter O for the amounts) Date Dec. 31, 2020 ~ June 30, 2021 Dec. 31, 2021 v Account Titles and Explanation (To record dividend.) (To record revenue.) Debit Credit 11