On January 1, 2021 Cash Grabber Corp. purchased 40,000 of the common shares of JP Pharmaceuticals for $2,320,000. The 40,000 shares represents a 20% interest in the voting stock of JP Pharmaceuticals. During 2021, JP Pharmaceuticals reported the following: Net Income $620,000 Dividends declared & paid 2021 $80,000 As of December 31, 2021 shares of JP Pharmaceuticals were trading for $50/share and shares of Cash Grabber Inc. were trading for $37/share. Instructions: Prepare: Assuming Cash Grabber exercises significant influence over JP Pharmaceuticals: a record the entry to record the purchase of JP Pharmaceuticals on January 1, 2021 b record the journal entries (if any) regarding JP Pharmaceuticals Net Income and Dividends c record the adjusting entry (if any) required at December 31, 2021 Assuming Cash Grabber does not have significant influence over JP Pharmaceuticals record: d record the entry to record the purchase of JP Pharmaceuticals on January 1, 2021 e record the journal entries (if any) regarding JP Pharmaceuticals Net Income and Dividends f record the adjusting entry (if any) required at December 31, 2021