On January 2, 2017, Todd Company acquired 35% of the outstanding stock of McGuire Company for $250,000. For the year ending, December 31, McGuire eaned income of $100,000 and paid dividends of $20,000. Required: (Shows computations and references are required) Prepare the entries for Todd Company for the purchase of the stock, sh are of McGuire income and dividends received from McGuire. Debit Credit