Exercise 12-20 (Algo) Equity method; purchase; investee income; dividends [LO12-6] As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 30% of Nursery Supplies Inc.'s 20 million shares for $60 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $70 million and distributed cash dividends of $2.00 per share. At the end of the year, the fair value of the shares is $56 million. Required: Prepare the appropriate journal entries from the purchase through the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet 1 2 3 4 Record the investment in Nursery Supplies shares. Note: Enter debits before credits. Transactions 1 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet 1 2 3 4 Record the investor's share of net income. Note: Enter debits before credits. Transactions 2 General Journal Debit Credit > Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record the cash dividends received from Nursery Supplies shares. Note: Enter debits before credits. Transactions 3 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet 1 2 3 4 Record fair value adjustment at year-end. Note: Enter debits before credits. Transactions 4 General Journal Debit Credit Record entry Clear entry View general journal