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Question 3) 10 Marks (Space allowed: 1 sheet of paper, i.e. 1 photo) Time allotted: 25 min Pluto Inc. had the following long-term investment activities

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Question 3) 10 Marks (Space allowed: 1 sheet of paper, i.e. 1 photo) Time allotted: 25 min Pluto Inc. had the following long-term investment activities in 2019 but none of these are journalized. Jan 2 Bought 6,000 shares of Mars Inc. for $30 a share and paid 10% in fees & commission. Mars is a small company with only 20,000 shares outstanding in the market. Jul 15 Mars Inc, declared a $0.50 per share cash dividends to all shareholders as of Jul 31st. Aug 1 Received cash dividends from Mars Inc. Nov 1 Mars Inc. declared a 10% stock-dividend to all shareholders as of Nov 15th. Nov 15 Received stock certificates from Mars Inc. Dec 31 Mars Inc. reported a net gain of $100,000 for the year of 2019. Prepare all the journal entries required for the above activities on Pluto's Accounting record. (Proper format and account names are required.)

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