Long$-$term Investments

Sullivan Corporation purchased the following long$-$term investments in stock securities on January $10,2017$:

$10,000$ shares of the $100,000$ outstanding common shares of Alec Corporation for $$400,000.$

$3,000$ shares of the $10,000$ outstanding common shares of Mountain Company for $$135,000.$

$6,000$ shares of the $50,000$ outstanding common shares of Hudson Company for $$150,000.$

Instructions: Prepare the journal entries for Sullivan Corporation to record the acquisition of the long$-$term stock investments, the receipt of dividends, and any other necessary entries at year end on December $31,2017.$ Assume that Sullivan Corporation's ownership interest in each company remained constant throughout the year.