Part A

On January 2, 2019,Kendrick Corp. purchased 10,000 shares of the stock of Grande Company, and did not obtain significant influence.The investment is intended as a long-term investment. The stock was purchased for $10 per share, and represents a 10% ownership stake.Grande Company made $20,000 of net income in 2019, and paid dividends of $8,000 on December 15, 2019. On December 31, 2019, Grande Company's stock was trading on the open market for $12 per share at the end of the year.Use this information to make the General Journal entry(ies) for January 2 purchase and the December 15 & 31, 2019 record of income & gain/loss.

Part B

On January 1, 2019, Kesha Company purchased a significant influence shares investment in the Winehouse Company for $250,000.This investment balance represents 40% of the equity of the Winehouse Company.During 2019, Winehouse Company reported Net Income of $30,000 on November 15, 2019 Winehouse Company paid cash dividends of $20,000 to its shareholders. Use this information to make the January 1, November 15 and December 31, 2019 General Journal entry