Presented below are two independent situations.

1.	Gambino Cosmetics acquired10% of the170,000shares of common stock of Nevins Fashion at a total cost of $12per share on March 18, 2017. On June 30, Nevins declared and paid a $40,000dividend. On December 31, Nevins reported net income of $117,000for the year. At December 31, the market price of Nevins Fashion was $14per share. The stock is classified as available-for-sale.
2.	Kanza, Inc., obtained significant influence over Rogan Corporation by buying40% of Rogan?s24,000outstanding shares of common stock at a total cost of $9per share on January 1, 2017. On June 15, Rogan declared and paid a cash dividend of $40,000. On December 31, Rogan reported a net income of $72,000for the year.

Prepare all the necessary journal entries for 2017 for (a) Gambino Cosmetics and (b) Kanza, Inc