Required information [The following information applies to the questions displayed below.] Below are selected T-accounts related to equity investments for William Company. Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $62,400; the affiliates also reported $5,970 in net income for the year. Prepare the year-end journal entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field