Presented below are two independent situations.

$1.$ Grand Cosmetics acquired $10\%$ of the $200,000$ ordinary shares of Cey Fashion at a total cost of $$12$ per share on March $18,2020.$ On June $30,$ Cey declared and paid a $$60,000$ dividend. On December $31,$ Cey reported net income of $$110,000$ for the year. At December $31,$ the market price of Cey Fashion was $$15$ per share. The shares are classified as non$-$trading.

$2.$ Unruh, Inc., obtained significant influence over Olsen Corporation by buying $25\%$ of Olsen's $40,000$ outstanding ordinary shares at a total cost of $$7$ per share on January $1,2020.$ On June $15,$ Olsen declared and paid a cash dividend of $$30,000.$ On December $31,$ Olsen reported a net income of $$80,000$ for the year.

Instructions

Prepare all the necessary journal entries for $2020$ for $($a$)$ Grand Cosmetics and $($b$)$ Unruh, Inc