Listed below are a few events and transactions of Kim Company. Year 1 Jan. 2 Purchased 85,000 shares of Grey Co. common stock for $491,000 cash. Grey has 255,000 shares of common stock outstanding, and its activities will be significantly influenced by Kim. Sept. 1 Grey declared and paid a cash dividend of $2.10 per share. Dec. 31 Grey announced that net income for the year is $498,900. Year 2 June 1 Grey declared and paid a cash dividend of $2.90 per share. Dec. 31 Grey announced that net income for the year is $720,400. Dec. 31 Kim sold 14,000 shares of Grey for $125,000 cash. Prepare journal entries to record the above transactions and events of Kim Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet Purchased 85,000 shares of Grecco Co. common stock for $491,000 cash. Grecco has 255,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 2, Year 1 Record entry Clear entry View general journal