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0n December 31, 101?, Raleigh Carp. had me fellewing balances {all balances are ndrt'nal]: Preferred Stock, {$50 par value, 6% nencumulative, 30,000 shares audmrized, EQDDD shares issued and dutstanding] $1,000,\" Cdmmun Stuck {$5 par value, mam shares authorized. E shares issued and outstanding} 1,500.\" Paid-in Capital in Excess of par, Eemmdn HELIX] Retained Earnings steam Prepare journal entries for the transactidns Listed belew fer Raleigh Cerpuratien: a. n January:I 1, Raleigh Carp. declared a F96 stock dividend on its cdmmen stock when the market value of the common stock was $19.?5 per share. Std-cit dividends were distributed on Januarv 31 tn shareholders as of January:I 15. b. 0n Fehmarv 15, Raleigh Earp. acquired 5,500 shares df cummen stack for $20 each. c n March 31, Raleigh Earp. reissued 1,252) shares of treasury stack for $23 each. d. n Julv 1, Raleigh Earp. reissued 1,5 shares of treasury stack for $13 each. e. n ctdher 1, Raleigh Carp. declared full vear dividends for preferred stock plus $1.20 cash dividends for outstanding cummun shares. Sharehulder dividends were paid an cteher 15. Un January.I 1.1011301? Company purchased 30,000 shares of the stock of Rayco, and did obtain signicant influence. The investment is intended as a long-term investment.The stock was purchased for $325,000, and represents a 25% ownership stake. Ravco made \"$15,000 of net income in 201?, and paid dividends of $500,000. The price of Ravco's stock increased from $3\"?! per share at the beginning of the year, to $32 per share at the end of the year. Requirements: a. Prepare the January 1 and December 31 general journal entries for XYZ Company b. Hovir much should the IYZ Company report on the balance sheet for the investment in Ravco at the end of 101?? H! I-VHFormat v \"I\" E IEv| I 1H I Account to debit I Amount I I I I Account to credit I I Amount I I 12.61 I Accountto debit I Amount I I I I Account to credit I I Amount I I 12,81 I Account to debit I Amount I I I I Account to credit I I Amount