On April 30, 2012. Papa Doc Donuts, purchased 50,500 shares of Frenchie's Beignets for $4.75 per share. This purchase gives Papa Doc Donuts a 3.75% stake in Frenchie's Beignets. On January 1, 2013, Papa Doc Domuts purchased an additional 344,500 shares for $4.00 per share gaining an additional 16.25% stake in Frenchie's Beignets. The Jamuary 1, 2013 purchase gave Papa Doc Donuts the ability to apply significant influence over Frenchie's Beignets. The original 3.75% investment was categorized and accounted for as an available for sale security Frenchie's Beignets reports net income, cash dividends, and per share prices as follows. These amounts are assumed to have occured evenly throughout these years. Cash dividends are declared and paid evenly throughout the same period. Year Cash Dividends 2012 Net Income $975.000 $1,650,200 $1,575,000 $1,600,000 2013 Per Share Price (December 31st Spot Rate) $4.65 $3.85 $5.00 $5.25 $105.200 $75,000 $120,000 $125,000 2014 2015 On Jume 30, 2015, Papa Doc sells 98,750 shares of Frenchie's Beignets capital stock for $5.10 per share. Using The Information for nchie's Beignets Prepare the Necessary to Account for the Following: 1.) Prepare the necessary journal entry Papa Doc Donuts would need to account for the April 30, 2012 acquisition of 3.75% of Frenchie's Beignets capital stock. 2.) Prepare Papa Doc Domuts December 31, 2012 journal entry. 3.) Prepare the necessary joumal entry(s) Papa Doc Donuts would need to account for the Jamuary 1, 2013 acquisition of 16.25% of Frenchie's Beignets capital stock. (Hint- Something changes at this point, you should have more than one journal entry} 4.) ) Prepare Pap Doc Donuts December 31, 2013 journal enty(s). 5.) Prepare Pap Doc Donuts December 31, 2014 journal entry(s)