Prepare all necessary journal entries in $2025$ for both situations.Presented below are two independent situations.

Situation $1$

Sheridan Tables acquired $15\%$ of the $5,000,000$ shares of common stock of Robot Sofas at a total cost of $$8\mathrm{.}80$ per share on April $1,$

On August $8,$ Robot Solas declared and paid a $$272,000$ cash dividend. On December $31,$ Robot Solas market price was $$9\mathrm{.}30$

per share and the company reported net income of $$695,000$ for the year,

Situation $2$

On January $1,2025,5$plish Company purchased $40\%$ of Santos Corporation $545,000$ outstanding shares of common stock at a total

cost of $$14$ per share. On October $25,5$ antos declared and paid a cash dividend of $$0,40$ per share. On December $31,5$ antos reported

a net income of $$833,000$ for the year and the market price of its common stock was $$15$ per share.

Prepare all necessary journal entries in $2025$ for both situations. $($Credit account titles are automatically indented when the amount is

entered. Do not indent manually, if no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Lfst all debit entries

before credit entries. Record journal entries in the order presented in the problem:

Date

Account Titles and Explanation

Debit

Credit

Situation $1$: Sheridan Tables