1. On 1/1/2017 XYZ, Inc. purchased 1,000 shares (18% of the outstanding stock) of ABC, Inc. for $100 per share. Record the journal entries for the follow events:
   1. The purchase of the stock on 1/1/2017
2. 2. The receipt of a cash dividend of $0.50 per share on 6/30/2017
3. 3. Prepared a balance sheet on 12/31/2017 when the stock was trading at $105 per share.
4. 4. On 12/31/2017 ABC, Inc. reported net income of $200,000.
5. 5. Sold the stock on 1/15/2018 for $106 per share. 2. Assume that the purchase in represented 30% of ABC, Inc.s outstanding stock. Record the journal entries for the follow events:
      1. The purchase of the stock on 1/1/2017
6. 2. The receipt of a cash dividend of $0.50 per share on 6/30/2017.
7. 3. Prepared a balance sheet on 12/31/2017 when the stock was trading at $105 per share.
8. 4. On 12/31/2017 ABC, Inc. reported net income of $200,000.
9. 5. Sold the stock on 1/15/2018 for $106 per share.