Gioia Company acquired some of the 65,000 shares of outstanding common stock (no par) of Tristezza Corporation during the current year as a long-term investment. The annual accounting period for both companies ends December 31. The following transactions occurred during the current year: Jan. 10 Purchased 17,875 shares of Tristezza common stock at $11 per share. Dec. 31 a. Received the current year financial statements of Tristezza Corporation that reported net income of $80,000. b. Tristezza Corporation declared a cash dividend of $0.60 per share. c. Tristezza Corporation paid the cash dividend declared in (b). d. Determined the market price of Tristezza stock to be $10 per share. Required: 2. Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• Purchased 17,875 shares of Tristezza common stock at $11 per share.
• Received the current year financial statements of Tristezza Corporation that reported net income of $80,000.
• Tristezza Corporation declared a cash dividend of $0.60 per share.
• Tristezza Corporation paid the cash dividend declared of $0.60 per share.
• Determined the market price of Tristezza stock to be $10 per share.