On January $1.2025,$ Martinez Corporation purchased $20\%$ of the common shares of Sandhill Company for $$206,000.$ During the year. Sundhill earned het income of $$94,000$ and pald dividends of $$23,500.$

Prepare the entries for Martinez to record the purchase and any additional entries related to this investment in Sandhill Company in $2025.($list all debit entries before credit entries Credit account titles are automatically indented when amount is entered. Do not indent manually: If no entry ts required, select $"$No Entry" for the occount titles and enter O for the amounts.$)$

$($Lst all debit entries before credit entries. Credit account tilles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry' for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$$

$$

$$

$$

$$

$$

$($To record purchase of stock.$)$

$$

$$

$$

$$

$$

$$

$($To record receipt of dividends.$)$

$$

$$

$$

$$

$$

$$

$($To record revernue.$)$