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Part B GHI Ltd purchased for $450,000 a 40% interest in Korman, Inc. This investment enables GHI Ltd to exert significant influence over Korman,

Part B GHI Ltd purchased for $450,000 a 40% interest in Korman, Inc. This investment enables GHI Ltd to exert significant influence over Korman, Inc. During the year, Korman, Inc earned net income of $27,000 and paid dividends of $78,000 to all ordinary shareholders. Required Prepare GHI Ltd's journal entries related to this investment. (5 marks)

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