On January 1, Ivanhoe Corporation purchased a 25% equity investment in Shane Corporation for $161,300. At...

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On January 1, Ivanhoe Corporation purchased a 25% equity investment in Shane Corporation for $161,300. At December 31, Shane declared and paid a $87,900 cash dividend and reported net income of $411,600. (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 O for the amounts.) (b) Date Account Titles and Explanation Jan. 1 Stock Investments Cash Dec. 31 Cash Stock Investments (To record dividend) Dec. 31 Stock Investments Revenue from Stock Investments (To record net income) eTextbook and Media List of Accounts Determine the amount to be reported as an investment in Shane stock at December 31. Investment in Shane, December 31 $ Debit 161300 21975 102900 Credit 161300 21975 102900 Attempts: 1 of 3 used On January 1, Ivanhoe Corporation purchased a 25% equity investment in Shane Corporation for $161,300. At December 31, Shane declared and paid a $87,900 cash dividend and reported net income of $411,600. (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 O for the amounts.) (b) Date Account Titles and Explanation Jan. 1 Stock Investments Cash Dec. 31 Cash Stock Investments (To record dividend) Dec. 31 Stock Investments Revenue from Stock Investments (To record net income) eTextbook and Media List of Accounts Determine the amount to be reported as an investment in Shane stock at December 31. Investment in Shane, December 31 $ Debit 161300 21975 102900 Credit 161300 21975 102900 Attempts: 1 of 3 used