Exercise 161 Information pertaining to long-term stock investments in 2017 by Bell Corporation follows Acquired 18% of the 250,000 shares of common stock of Kansas Company at a total cost of $8 per share on January 1, 2017, On 5654/000f5a nen paid a cash dividend of s2 per share. on December 32 s reported ret income was obtained significant influence over Toto Company by buying 30% of Toto's 100,000 outstanding shares of common stock at a total cost of $22 per share on January 1, 2017. On June is, Toto Company declared and paid a cash dividend of $1.50 per share. for the year On December 31, Toto's reported net income was $280,000. Prepare all necessary journal entries for 2017 for Bell Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manualy.) Date Account Titles and Explanation Debit Credit Jan. 1 To record purchase of Kansas Company stock) Jan. 1 (To record purchase of Toto Company stock) June 15 To record purchase of Kansas Company stock) Jan1 June 15 Dec. 31 of