Perry Co. invests in the stock of Sanders, Inc. Record the following transactions in the financial statements effects template below.

1) Purchased 7,000 shares of Sanders, Inc. common stock for $15 per; these shares represent 30% ownership of Sanders, Inc., which conveys to Perry Co. significant influence over the operations of Sanders.

2) Received a cash dividend of $3.85 per share from Sanders, Inc.

3) Sanders, Inc. reports net income of $189,000.

Balance Sheet

Income Statement

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Net Income

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