On I/10/22, Baxter Company purchased 240,000 shares of Lansing Corporation for $3,600,000, representing a 30% interest in Lansing. Baxter approprately accounts for the investment using the equity method. Lansing paid cash dividends of $1.20 per share. Lansing recorded net income for 2022 of $2,080,000. Prepare all journal entries Baxter would record in 2022 regarding this investment. If Baxter were to sell 40,000 shares of Lansing stock in January 2023 for $16.75 per share, what journal entry would Baxter make to record the transaction? On I/10/22, Baxter Company purchased 240,000 shares of Lansing Corporation for $3,600,000, representing a 30% interest in Lansing. Baxter approprately accounts for the investment using the equity method. Lansing paid cash dividends of $1.20 per share. Lansing recorded net income for 2022 of $2,080,000. Prepare all journal entries Baxter would record in 2022 regarding this investment. If Baxter were to sell 40,000 shares of Lansing stock in January 2023 for $16.75 per share, what journal entry would Baxter make to record the transaction