On January 1, 2018 Wind Inc. acquired some of Rambler Co.'s outstanding common stock and categorizes the investment as a long-term investment. Information related to 10 this acquisition and to Rambler Co.'s 2018 activity is given below: 11 12 Percentage of outstanding common stock acquired 12% Acquisition value $ 200,000 Rambler's book value at 1/1/18 $ 930.000 15 2018 Information for Rambler Co: 16 Income $ 75,000 17 Dividends $ 28,000 18 On January 1, 2019, Wind Inc acquired additional shares of Rambler Co., which gave Wind the ability to significantly influence the decision making of Rambler. Information 19 related to this acquisition and to Rambler Co.'s 2019 activity is given below: 20 20% S 315.000 Percentage of outstanding common stock acquired Acquisition value 2019 Information for Rambler Co: Income Paid dividends Any excess acquisition value related to trademarks $ $ 97,700 28,500 26 28 Also, during 2019, Wind sold inventory to Rambler. Information relevant to this 2019 Transfer price $ 300,000 Cost to Wind 275.000 Value of inventory resold during 2019 110,000 34 35 Required: Based on the above information, prepare the journal entries recorded by Wind in 36 each year 2018-2020. 33 27