On January 1, 2010 RM Wino Cash Grabber Corp. purchased 120,000 of the common shares of JP Pharmaceuticals for $5,160,000 The 120,000 shares represents a 20% interest in the voting stock of JP Pharmaceuticals. During 2010, JP Pharmaceuticals reported the following: Net Income Dividends declared& paid 2010 600,000 $ 80,000 As of December 31, 2010 shares of JP Pharmaceuticals were trading for $45/share and shares of RM Wino Cash Grabber Inc. were trading for $37/share. Instructions: Prepare: Assuming RM Wino exercises significant influence over JP Pharmaceuticals record: a the entry to record the purchase of JP Pharmaceuticals on January 1, 2010 b the journal entries (if any) regarding JP Pharmaceuticals Net Income and Dividends c the adjusting entry (if any) required at December 31, 2010 Assuming RM Wino does not have significant influence over JP Pharmaceuticals re d the entry to record the purchase of JP Pharmaceuticals on January 1, 2010 e the journal entries (if any) regarding JP Pharmaceuticals Net Income and Dividends f the adjusting entry (f any) required at December 31, 2010