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please complete all journal entries thx Pirate Corporation purchased 100 percent ownership of Ship Company on January 1,20X5, for $271,000. On that date, the book

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Pirate Corporation purchased 100 percent ownership of Ship Company on January 1,20X5, for $271,000. On that date, the book value of Ship's reported net assets was $216,000. The excess over book value paid is attributable to depreciable assets with a remaining useful life of 10 years. Net income and dividend payments of Ship in the following periods were as shown below: Required: Prepare journal entries on Pirate Corporation's books relating to its investment in Ship Company for each of the three years, assuming it accounts for the investment using the equity method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the dividend from Ship Company for 20X5. Note: Enter debits before credits. Journal entry worksheet Record the equity-method income for 205. Note: Enter debits before credits. Journal entry worksheet Record the amortization of differential value for 205. Note: Enter debits before credits. Journal entry worksheet Record the dividend from Ship Company for 20X6. Note: Enter debits before credits. Journal entry worksheet Record the equity-method income for 206. Note: Enter debits before credits. Journal entry worksheet Record the amortization of the differential value for 206. Note: Enter debits before credits. Journal entry worksheet Record the dividend from Ship Company for 207. Note: Enter debits before credits. Journal entry worksheet Record the equity-method income for 207. Note: Enter debits before credits. Journal entry worksheet Record the amortization of the differential value for 207. Note: Enter debits before credits

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