Entries for equity investments: 20%50% ownership At a total cost of $1,625,600, Herrera Corporation acquired 128,000 shares of Tran Corp. common stock as a long-term investment. Tran Corp. has 400,000 shares of common stock outstanding, including the shares acquired by Herrera Corporation. a. Journalize the entries by Herrera Corporation to record the following information: If an amount box does not require an entry, leave it biank. 1. Tran Corp. reports net income of $2,930,000 for the current period. Feodonch F Check My Won investment and income accounts by the ownership percentage times Tran Corp.'s net income. 2. A cash dividend of $1.20 per commen share is paid by Tran Corp. during the current period