Record journal entries for the following questions:

A) Grandview owns 34% of Banfield, Inc. as an investment. Banfield reports net income of $51,250. There is no FMV adjustments that need to be made. Make the entry as of 12/31/17.

B) The final payroll entry (on 12/31/17) has wages of $55,000. There is $15,000 in federal withholding and $5,300 in state withholding. The social security tax rate is 12.4% and Medicare tax rate is 2.9% (These are total tax rates not just the employee or employer tax rates). FUTA has a 0.6% tax rate and SUTA has a 5.4% tax rate. There are no fringe benefits associated with this payroll. The wages are not paid in 2017, they will be paid January 2018. Round to nearest dollar.