Part 1. Jackson Inc. purchased 20,000 shares (5% of the total 400,000 shares) of common stock of Jeep Corporation at a total cost of $6 per share on May 18, 2018. Journalize the transaction for Jackson, Inc. Part 2. On August 30, Jeep Corporation declared and paid a dividend of $75,000 total. Journalize the transaction (if any) for Jackson, Inc. Part 3. On December 31, Jeep Corporation reported net income of $500,000 for the year. Journalize the transaction (if any) for Jackson, Inc