PART 5: INVESTMENTS 20 POINTS 1) On January 1, 2018, West Coast Boats paid S 1,850,000 for its 30% investment in East Coast Autos. After the purchase, West Coast Boats has significant influence over East Coast Autos. East Coast Autos earned net income of $30,000,000 and paid cash dividends of $15,000,000 to all outstanding stockholders during 2018. Assume all outstanding stock is voting stock. Requirement: 1. Journalize all required 2018 transactions related to West Coast Boats' investment in East Coast Autos. Omit explanations, 2) On October 1, 2018, North Co. invested excess cash of $80,000 by purchasing bonds of South Inc. At year-end. December 31, 2018, the market price of the bonds was $77,000. The investment is categorized as a trading debt investment. Journalize the adjusting entry needed at December 31, 2018. Omit explanation