Exercise 17B-17 On January 1, 2017, Flounder Corporation purchased 20% of the common shares of Culver Company for $196,000. During the year, Culver earned net income of $77,000 and paid dividends of $19,250 Prepare the entries for Flounder to record the purchase and any additional entries related to this investment in Culver Company in 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit To record purchase of stock.) To record receipt of dividends.) To record revenue.)