On January $1,2025,$ Joiner, Inc. decides to invest in $9,450$ shares of Gelding stock when the stock is selling for $$18$ per share. On June $1,2025,$ Gelding paid a $$1\mathrm{.}10$ per share cash dividend to stockholders. On December $31,2025,$ Gelding reports net income of $$70,000$ for $2025.$ Assume Gelding has $27,000$ shares of voting stock outstanding during $2025$ and Joiner, Inc. has significant influence over Gelding.

Read the requirements.

Requirement $1.$ Identify what type of investment the Gelding stock is for Joiner, Inc.,

Joiner, Inc.$\text{'}$s investment would be investment.

Requirement $2.$ Journalize the transactions related to Joiner, Inc.$\text{'}$s investment in the Gelding stock during $2025.($Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select $"$No entry required" on the first line of the Accounts and Explanation column and leave the remaining fields blank.$)$

January $1$: Joiner, Inc. decides to invest in $9,450$ shares of Gelding stock when the stock is selling for $$18$ per share.

June $1$: Gelding paid a $$1\mathrm{.}10$ per share cash dividend to stockholders.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Jun$.1],[,,,],[,4,,],[,,,],[,,,]]$