On January $1,$ Sheridan Corporation purchased a $25\%$ equity investment in Shane Corporation for $$156,100.$ At December $31,$ Shane declared and paid a $$77,200$ cash dividend and reported net income of $$396,400.$

$($a$)$

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 $0$ for

the amounts.$)$