EY PART 1 - Wal Matter Company has an investment in Morning Star Company's common share at One Matter paid $30,000,000,00 In cash on January 2, 2012. Required: a. Prepare journal entries to record the Investment in Morning Star's Company by Wall Matter. b. On December 20, 2013 Morning Star reported earnings of $400,000.00 and declared and paid $120,000 dividends to its shareholders. Required: Prepare the journal entries that Wall Matter would make in December 31, 2013 to recognize the earnings of Morning Star and its dividends payment. L What is the Carrying Value of Wall Matter's Investment Account in Morning Star's Shares