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Equity Method and Other Comprehensive Income Mitchell Corporation pays $15 million to acquire a 30 percent interest in Turner Corporation's stock on January 1, 2023, and reports the investment using the equity method. Any basis difference is attributed to goodwill. During 2023, Turner reports net income of $900,000, which includes $40,000 in realized and unrealized gains on trading securities. Turner also reports $65,000 in unrealized losses on AFS securities in other comprehensive income, and pays dividends of $200,000 in 2023. Required Prepare Mitchell's journal entries to record the above events for 2023. Description Investment in Turner Cash Debit Credit 15,000,000 0 15,000,000 300,000 x 0 300,000 x To record investment in Turner's stock. Investment in Turner Equity in net income of Turner To record Mitchell's share of Turner's net income. Cash Investment in Turner To record receipt of dividends from Turner. Losses on AFS investments (OCI) Investment in Turner To record Mitchell's share of Turner's OCI. 15,000 x 0 15,000 x 24,000 x 0 0 9 *