On January 2, Todd Company acquired 40% of the outstanding stock of McGuire Company for $205,000. For the year ending December 31, McGuire earned income of $48,000 and paid dividends of $14,000 Required: Prepare the entries for Todd Company for the purchase of the stock, share of McGuire income, and dividends received from McGuire. Accounts Receivable Ganone Investment-c e Company Stock Loss on Saleef investments On February 12, Addison, Inc. purchased 6,000 shares of Lucas Company at $22 per share plus a $240 brokerage fee. This purchase represents less than 20% ownership of Lucas Company. On August 22, Lucas paid a dividend per share of $0.42. On November 10, 4,000 shares of Lucas stock were sold for $28 per share less a $160 brokerage fee. Required: Prepare the journal entries for the original purchase, dividend, and sale. If an amount box does not require an entry, leave it blank. Feb. 12 Aug 22 Nov. 10 Dividends Payable Investments Lucas Company Stock Low on sale of Investments Supplies