question has two parts just give answers no explanations and i will give good rating

4 a) No Significant Intluence (8 marks) 5 6 Bailey Inc, purchased 1500 common shares (5% of the outstanding common shares) of Tom Inc 2 for $120,000. During the yeaa, Tom paid a cash dividend of $325 per share. Ar year end, Tom's shares had a far value of $90 50 per share and Tom reported S120,000 in net income for the year 9 10 Required 31 Prepare all the journal entries for 2020 in Bailey's books related to the above transaction assuming that 12 Bailey Inc is not in a position to exercise significant influence over Tom Ltd., using FV-OCI. ta 14 Date Account Titles Dr. CE 15 16 17 18 15 20 21 22 23 24 25 26 27 28 29 b) Significant influence (6 marks) 30 28 20 b) Significant Influence (6 marks) 30 31 Required: 32 Prepare all the journal entries for 2020 in Bailey's books related to the above transaction assuming that 33 Bailey Inc. can exercise significant influence over Tom Ltd, using the equity method. 34 35 Date Account Titles Dr. Cr. 42 S&S 9898 50 51 End of page