On January 2, 2021, Gabe, Inc. acquired 30% of the voting common stock of Lily Corporation as a long-term investment. Data from Lily Corporation's financial statements for the year ended December 31, 2021, include the following: Required: Net income $150,000 Dividends paid $ 75,000 Prepare the appropriate journal entries for Gabe, Inc. at December 31, 2021, under the equity method of accounting for investments.. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) B IUS Date P SPAN Paragraph Arial General Journal 14px EMA Debit Credit 5 WORDS POWERED BY TINY