Presented below are two independent situations:

(a) Edelman Inc. acquired 10% of the 415,000 shares of common stock of Schuberger Corporation at a total cost of $12 per share on June 17, 2017. On September 3, Schuberger declared and paid a $115,000 dividend. On December 31, Schuberger reported net income of $515,000 for the year.

(b) Wen Corporation obtained significant influence over Hunsaker Company by buying 30% of Hunsakers 115,000 outstanding shares of common stock at a cost of $15 per share on January 1, 2017. On May 15, Hunsaker declared and paid a cash dividend of $115,000. On December 31, Hunsaker reported net income of $215,000 for the year.

Prepare all necessary journal entries for 2017 for (a) Edelman and (b) Wen