On January 1, Year 5, Blake Corporation purchased 25% of the outstanding common shares of Stergis Limited for $2,250,000. The following relates to Stergis since the acquisition date: Yean Net Income Year 5 Year 6 $63,000 180,000 Other Comprehensive Income $13,000 36,000 Dividends Paid $90,000 90,000 Required: (a) Assume that Blake is a public company and the number of shares held by Blake is enough to give it significant influence over Stergis. Prepare all the journal entries that Blake should make regarding this investment in Year 5 and Year 6. Date January 1, Year S December 31, Year 5 (Click to select) General Journal (Click to select) To record purchase of 25% of Stergis. (Click to select) (Click to select) To record 25% of Stergis's Year 5 net income. (Click to select) (Click to select) To record 25% of Stergis's Year 5 OCI (Click to select) (Click to select) To record 25% of Stergis's Year S dividends. December 31, Year 6 (Click to select) (Click to select) To record 25% of Stergis's Year 6 net income. Click to select) (Click to select) To record 25% of Stergis's Year 6 OC (Click to select Click to select To record 25% of Stergis's Year 6 dividends. Debit Credit 0 0 0 0 0 0 (b) Assume that Blake is a private company. Even though it has significant influence, it chose to use the cost method to account for its investment Prepare all the journal entries that Blake should make regarding this investment in Year 5 and Year 6. Date January 1, Year 5 General Journal (Click to select) December 31, Year December 31, Year 6 (Click to select) To record purchase of 25% of Stergis. (Click to select) (Click to select) To record 25% of Stergis's Year 5 dividends (Click to select) (Click to select) To record 25% of Stergis's Year 6 dividends. Debit Credit