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Q6 (15 points) PQR Corporation purchased 1,000,000 shares of ZYX Corporation's common stock; which constitutes 10% of ZX 's voting stock on June 30,2019 for

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Q6 (15 points) PQR Corporation purchased 1,000,000 shares of ZYX Corporation's common stock; which constitutes 10\% of ZX 's voting stock on June 30,2019 for $42 per share. PQR's intent is to keep these shares beyond the current year. On December 20,2019, ZYX paid a $4,000,000 cash dividend. On December 31,2019,2YX 's stock was trading at $45 per share and their reported 2019 net income was $52 million. On February 1,2020 PQR sells all of its ZYX shares for $40 per share. PQR also pays a $40,000 brokerage commission to sell the shares. Required: A. Record the transaction in PQR's journal for the acquisition of ZYX shares on June 30,2019. B. Record the transaction in PQR's journal for the dividend received on December 20, 2019. C. Record any year-end entries needed by PQR Corporation. D. Record the transaction in PQR's journal for the sale of ZYX shares on February 1, 2020. If using an unrealized gain or loss account, show whether it would appear in the income statement (IS) or in accumulated other comprehensive income (AOCI) on the balance sheet

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