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Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017 for $184,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Seida for $645,000 which resulted in significant influence over Seida. On that date, the fair value of Selda's common stock was $1,990,000 in total. Seida's January 1, 2018 book value equaled $1,840,000, although land was undervalued by $139,000. Any additional excess fair value over Selda's book value was attributable to a trademark with an 8-year remaining life. During 2018, Selda reported income of $275,000 and declared and paid dividends of $109,000. Prepare the 2018 journal entries for Milani related to its investment in Seida. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction Credit Answer is complete but not entirely correct. General Journal Investment in Seida Investment in Sek Cash Debit 645,000 1 1 645,000 110.000 Investment in Seida Equity income--Investment in Seida 110,000