For each of the following scenarios, prepare dated journal entries on the acquiring companys books for the investment from acquisition to disposal. Ignore income taxes.

b) On March 1, 20X7, Casey Co. acquired 1,000 shares of Hoi Co. for $30,000. This investment represents a 15% interest in Hoi. Casey has classified this investment as an FYTPL. On November 30, 20X7, Hoi paid a $25,000 dividend to its shareholders. At February 28, 20X8, Hois shares were valued at $40/share and Hoi reported net income of $150,000 for the year. On April 15, 20X8, Casey sold the shares for $53,000. Both Casey and Hoi have February 28th year-ends