Current Attempt in Progress Zane Locomotive Corporation purchased for $600,000 a 40% interest in Lopez Railways, Inc. This investment enables Zane Locomotive to exert significant influence over Lopez Railways. During the year, Lopez Railways earned net income of $160.000 and paid dividends of $25,000. Prepare Zane Locomotive's journal entries related to this investment. (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 for the amounts) Account Titles and Explanation Debit Credit (To record investment) (To record share in net income) (To record share in dividends) IM Current Attempt in Progress Presented below are two independent situations. Situation 1 Monty Cosmetics acquired 10% of the 184,000 ordinary shares of Ramirez Fashion at a total cost of $13 per share on March 18, 2022 On June 30, Ramirez declared and paid a $69.400 cash dividend. On December 31. Ramirez reported net income of $113,000 for the year. At December 31, the market price of Ramirez Fashion was $14 per share. The investment is classified as trading, Situation 2 Flounder, Inc. obtained significant influence over Nadal Corporation by buying 25% of Nadal's 31,400 outstanding ordinary shares at a total cost of $9 per share on January 1, 2022. On June 15, Nadal declared and paid a cash dividend of $39,100. On December 31 Nadal reported a net income of $85,000 for the year Prepare all necessary journal entries in 2022 for both situations. (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 for the amounts:) Date Debit Credit Account Titles and Explanation Situation 1: Monty Cosmetics C Situation 2: Flounder, Inc Situation 2: Flounder. Inc e Textbook and Media List of Accounts