Listed below are a few events and transactions of Kodax Company. Year 1 Jan. 2 Purchased 45,000 shares of Grecco Co. common stock for $451,000 cash. Grecco has 180,000 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 $492,900. Year 2 June 1 Grecco declared and paid a cash dividend of $1.30 per share. Dec. 31 Grecco announced that net income for the year is $710, 400. Dec. 31 Kodax sold 12,000 shares of Grecco for $171,500 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.)