On August 4, 2019, Bennett Corporation purchased 4,700 shares of Plummer Company for $267,900. The following information applies to the stock price of Plummer Company: 12/31/2019 12/31/2020 12/31/2021 Price $ 56 61 65 Plummer Company declares cash dividends of $3.50 per share on June 1 of each year and pays the dividends on July 1 of each year. PA-5 Part 2 2. Prepare journal entries to record the facts in the case, assuming that Bennett used the equity method to account for the investment. Bennett owns 35 percent of Plummer and Plummer reported $54,000 in income each year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2 Record Bennet's percentage share of Plummer's income on December 31, 2019. Record the declaration of dividends on June 01, 2020. Record the payments of dividends on July 01, 2020. Record Bennet's percentage share of Plummer's income on December 31, 2020. Record the declaration of dividends on June 01, 2021. Record the payments of dividends on July 01, 2021. 8 Record Bennet's percentage share of Plummer's income on December 31, 2021. Note : = journal entry has been entered