On January 2, Ubuy.com paid $230,000 to acquire 25 percent (23,000 shares) of the common stock of E-Net Corporation. The accounting period for both companies ends December 31. July 2 E-Net declared and paid a cash dividend of $4 per share. Dec. 31 E-Net reported net income of $330,000. Required: Indicate the effects (direction and amount) of the transactions listed above.

On January 2, Ubuy.com paid $230,000 to percent the common acquire 25 (23,000 shares) of stock of E- Net Corporation. The accounting period for both companies ends December 31. July 2 E-Net declared and paid a cash dividend of $4 per share. Dec. 31 E-Net reported net income of $330,000 Required: Indicate the effects (direction and amount) of the transactions listed above. (Enter any decreases to account balances with a minus sign.) ) of the transactions listed Balance Sheet Income Statement AssatsLsbiliters Roasnolcarm Stockholders Revenues Expenses Net Income Date Equity Jan. 2 Jul. 2 Dec. 31