Journal entry worksheet Record Pawn Corporation's 30\% share of Shop Corporation's 20X5 dividend. Note: Enter debits before credits. Journal entry worksheet Record Pawn Corporation's 30\% share of Shop Corporation's 20X5 income. Note: Enter debits before credits. Pawn Corporation purchased 30 percent of Shop Company's common stock on January 1, 20X5, by issuing preferred stock with a par value of $50,000 and a market price of $120,000. The following amounts relate to Shop's balance sheet items at that date: Shop purchased buildings and equipment on January 1, 20X0, with an expected economic life of 20 years. No change in overall expected economic life occurred as a result of the acquisition of Pawn's stock. The amount paid in excess of the fair value of Shop's reported net assets is attributed to unrecorded copyrights with a remaining useful life of eight years. During 20X5, Shop reported net income of $40,000 and paid dividends of $10,000. Required: Prepare all journal entries to be recorded on Pawn Corporation's books during 20X5, assuming it uses the equity method in accounting for its ownership of Shop Company. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the initial investment in Shop Corporation. Note: Enter debits before credits. Journal entry worksheet Record the amortization of the excess acquisition price. Note: Enter debits before credits