Question 1 of 3 -/1 E View Policies Current Attempt in Progress The following are two independent situations: 1. Oriole Ltd. acquired 10% of the 404.000 ordinary shares of Northbrook Enterprises at a total cost of 11 per share on June 17,2020. On September 3, Northbrook declared and paid a 104.000 dividend. On December 31, Northbrook reported net income of 504,000 for the year. Skysong Ltd. obtained significant influence over McCarthy Company by buying 30% of McCarthy's 104,000 outstanding shares of common stock at a cost of 20 per share on January 1, 2020. On May 15, McCarthy declared and paid a cash dividend of 104,000. On December 31, McCarthy reported net income of 204,000 for the year. 2. Prepare all necessary journal entries for 2020 for (a) Oriole and (b) Skysong. (If no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 1) | 2) > e Textbook and Media List of Accounts SAMA farlar Attempts:0 of 3 used Submit Anemor