On January 2, Cohan Company acquired 41% of the outstanding stock of Sanger Company for $627,000. For the year ended December 31, Sanger Company earned income of $107,900 and paid dividends of $22,500. Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for exact wording of account titles. Journal Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 ACCOUNTING EQUATION JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIESQUITY 1 2 3 4 5 6