Pronghorn Inc. acquired $20\%$ of the outstanding common stock of Theresa Kulikowski Inc. on December $31,2020.$ The purchase price was $$1,243,200$ for $51,800$ shares. Kulikowski Inc. declared and paid an $$0\mathrm{.}75$ per share cash dividend on June $30$ and on December $31,2021.$ Kulikowski reported net income of $$786,000$ for $2021.$ The fair value of Kulikowski's stock was $$27$ per share at December $31,2021.$

$($a$)$

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Prepare the journal entries for Pronghorn Inc. for $2020$ and $2021,$ assuming that Pronghorn cannot exercise significant influence over Kulikowski. $($Credlt account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

ate Account Titles and Explanation

Debit

Credit

Equity Investments

Cash

Cash

Dividend Revenue

Dividend Revenue