On January 1, 2021, Alamar Corporation acquired a 38 percent interest in Burks, Inc., for $212,000. On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $374,000. During 2021, Burks reported net income of $75,000 and declared and paid cash dividends of $28,000. Alamar sold inventory costing $25,000 to Burks during 2021 for $42,000. Burks used all of this merchandise in its operations during 2021. Prepare all of Alamar's 2021 journal entries to apply the equity method to this investment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction 1 General Journal Cash Investment in Burks, Inc. Equity in investee income Dividend receivable Investment in Burks, Inc. Debit Credit 212,000 212,000 28,500 28.500 10,640 10,640