On January 1, Cullumber Corporation purchased a 25% equity investment in Shane Corporation for $158,800. At December 31 , Shane declared and paid a $81,800 cash dividend and reported net income of $353,100. (a) Your answer is correct. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts.) Date Account Titles and Explanation Debit Credit (To record dividend) (To record net income) Solution List of Accounts Attempts: 3 of 3 used (b) Determine the amount to be reported as an investment in Shane stock at December 31. Investment in Shane, December 31