Flower Power Inc purchased some of Water Bubble Company on $1/1/24.$ Water Bubble

Company has a total of $400,000$ outstanding common stock shares. During $2024,$ Water

Bubble Company earned $$700,000$ profits and pays cash dividends of $$2\mathrm{.}50$ per share. The

value of the stock on $12/31/24$ was $$44$ per share.

a$.$ If Flower Power Inc purchased $46,000$ shares of Water Bubble Company for $$40$ per

share, what $3$ journal entries should be recorded on $1/1/24$ and $12/31/24?$ Flower Power

Inc has no intention of selling these shares anytime soon. $(2$ points each$)$

$\frac{1}{1}\frac{?}{24}$

$\frac{12}{31}\frac{?}{24}$

$\frac{12}{31}\frac{?}{24}$

b$.$ If$,$ instead, Flower Power Inc purchased $120,000$ shares of Water Bubble Company for

$$40$ per share, what $3$ journal entries should be recorded on $1/1/24$ and $12/31/24?$

Flower Power Inc has no intention of selling these shares anytime soon. $(2$ points each$)$

$\frac{1}{1}\frac{?}{24}$

$\frac{12}{31}\frac{?}{24}$

$\frac{12}{31}\frac{?}{24}$