Question Saved to this PC Design Leyout Raferences Malings Revien View Help Tell me what you want to do 1 Normal 1 No Spac Heading 1 Heading 2T Subsde Subtle E Emphass On January 2, 2018, Sanborn Tobacco Inc. bought 5% of Jackson Industry's capital stock for $90 million. Jackson Industry's net income for the year December 31, 2018, was $120 million. The fair value of the shares held by Sanborn was $98 million at December 31,2018. During 2018, Jackson declared a dividend of $60 million. Required 1 Prepare all appropriate journal entries related to the investment during 2018. 2. Assume that Sanborn sold the stock on January 2, 2019 for $110 million. Prepare the journal entries Sanborn would use to record the sale. Assume that Sanbem sold the stack on Janvary 2, 2049 for 310 milien Prewgare the journal enries Sanbom would use bo entry required" in she frst accouns rel 10 12 5 6 8 9