Make journal entries for stock im. DO IT! 16.2 (LO2) Presented below are two independent situations: 1. Edelman Inc. acquired 10% of the 500,000 shares of common stock of Schuberger Corporation at a total cost of $11 per share on June 17, 2020. On September 3, Schuberger declared and paid a $160,000 dividend. On December 31, Schuberger reported not income of $550,000 for the year