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On January 1, Blossom Corporation porchased a 25% equity investment in Shane Corporation for $159,000. At December 31 , Shane declared and paid a $76,500

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On January 1, Blossom Corporation porchased a 25% equity investment in Shane Corporation for $159,000. At December 31 , Shane declared and paid a $76,500 cash dividend and reported net income of 5405,700 . (3) Your answer is partially correct. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account bites are automotically indented when the omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter ofor

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