Pursley, Inc. acquires 10 % of Ritz Corporation on January 1, 2018, for $75,000 when the book value of Ritz was $750,000. During 2018 Ritz reported net income of $100,000 and paid dividends of $30,000. As of 12/31/2018, fair value of Investment in Ritz account was $100,000 On January 1, 2019, Pursley purchased an additional 20% of Ritz for $200,000, giving Pursley the ability to significantly influence the operating policies of Ritz. Any excess of price over book value in this purchase is attributable to Patent with 10 year life. Ritz reported net inconme of $400,000 during 2019 and paid dividends totaling $50,000. 12 Required: Write all journal entries for 2019 for Pursley Inc. (Hint: start with calculating and allocating the excess at the time of 2d purchase; follow it with necessary ealculations and entries from 1/1 through 12/31 for 2019)