Problem #4 Information relating to equity investments made in 2022 by Mahdi Corporation follows: 1. On January 1, 2022, Mahdi obtained significant influence over Webster Inc. by buying 30% of Webster's 120,000 issued common shares at $24 per share. On June 15, 2022, Webster declared and paid a cash dividend of $1.50 per share. On December 31, Webster's reported net income was $280,000, and its shares were trading at $25.50. 2. On March 1, 2022, as a trading investment, Mahdi acquired 12% of the 250,000 issued common shares of Noah Limited at $8 per share. On July 1, 2022, Noah declared and paid a cash dividend of $2 per share. On December 31, 2022, Noah's reported net income was $654,000 for the year and its shares were trading at $7.50. 3 What is the impact on the financial statements related to these investments? Instructions Prepare all necessary journal entries relating to these two investments for 2022 for Mahdi Corporation (15 marks)