On January 1, Kingbird Corporation purchased 35% of the outstanding shares of Selig Company for $152,000. At December 31. Selig dechred and paid a $40,000 cash dividend and reported net income of $64,000. Prepare the necessary journal entries for Kingbird Corporation. (Credit account titles are autamaticolly indented when the amount is entered. Do not indent manualfy, List all debit entries before credit entries. Record joumal entries in the order presented in the