Listed below are a few events and transactions of Kodax Company. Year 1 Jan. 2 Purchased 90,000 shares of Grecco Co. common stock for $511,000 cash. Grecco has 270,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $1.90 per share. Dec. 31 Grecco announced that net income for the year is $501,900. Year 2 June 1 Grecco declared and paid a cash dividend of $2.20 per share. Dec. 31 Grecco announced that net income for the year is $725,400. Dec. 31 Kodax sold 11,000 shares of Grecco for $128,000 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.