Listed below are a few events and transactions of Kodax Company Year 1 Jan. 2 Purchased 75,000 shares of Grecco Co. common stock for $481,000 cash. Grecco has 300,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $2.20 per share. Dec. 31 Grecco announced that net income for the year is $497, 480. Year 2 June 1 Grecco declared and paid a cash dividend of $.70 per share. Dec. 31 Grecco announced that net income for the year is $717,900. Dec. 31 Kodax sold 13,600 shares of Grecco for $100,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list View journal entry worksheet Credit No 1 Date Jan. 2. Year 1 General Journal Equity method investments Cash Debit 481,000 481,000 165,000 2 2 Sept. 1. Year 1 Cash Equity method investments 165,000 124,350 / 3 Dec 31, Year 1 Equity method investments Earnings from equity method investments 124,350 52,500 4 June 1. Year 2 Cash Equity method investments 52,500