On January 1, Pharoah SpA purchased a 25% equity in Morelli SpA for 177,000. At December 31, Morelli declared and paid 50,200 cash dividend and reported net income of $ 196,000. Journalize the transactions. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit (To record dividends recelved) (To record dividends received) (To record equity in Helbert Corporation's net income) e Textbook and Media List of Accounts Determine the amount to be reported as an investment in Morelli at December 31 Investment in MorellDecember 31