Exercise 15-14 (Algo) Accounting for equity method investments LO P5 Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 55,000 shares of Grecco Company common stock for $461,000 cash. Grecco han 165,000 sharen of comon stock outatanding, and its activities will be aignificantly influenced by Kodax. September 1 Grecco deelarod and paid a cash dividend of $2.00 per thare. December 31 Grecco announced that net income for the year is $494,400. Year 2 June 1 creceo declared and paid a cash dividend of $1.10 per thare. Decomber 31 Grecco announced that net income for the year is $712,900. Decenber 31 Kodax nold 11,000 shares of Grecco tor $142,000 canh. Prepare journal entries to record the above transactions and events of Kodax Company. Note: Do not round intermediate calculations and round your final answers to the nearest dollar amount