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Required information [The following information applies to the questions displayed below.) Lisa Company had outstanding 180,000 shares of common stock. On January 10, 2018, Marg

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Required information [The following information applies to the questions displayed below.) Lisa Company had outstanding 180,000 shares of common stock. On January 10, 2018, Marg Company purchased a block of these shares in the open market at $10 per share, with the intent of holding the shares for a long time. At the end of 2018, Lisa reported net income of $160,000 and cash dividends of $0.70 per share. At December 31, 2018, Lisa Company stock was selling at $8 per share. 2-a. Prepare the journal entries for Marg Company at the dates indicated for Case A: 25,200 shares purchased. 2-b. Prepare the journal entries for Marg Company at the dates indicated for Case B: 73,800 shares purchased. 3. Complete the following schedule to show the separate amounts that should be reported on the 2018 financial statements of Marg Company Complete this question by entering your answers in the tabs below. Reg 2A Req 28 Reg 3 Prepare the journal entries for Marg Company at the dates indicated for Case A: 25,200 shares purchased. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the acquisition of 25,200 shares of Lisa Company on January 10.

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