Required information [The following information applies to the questions displayed below.] Rowan Company purchases 400 common shares (40%) of JBI Corporation as a long-term investment for $530,000 cash on January 1. JBI paid $7,250 in total cash dividends on November 1 and reported net income of $145,000 for the year. Rowan made entries to record (1) the purchase of JBI shares, (2) the receipt of its share of JBI dividends, and (3) the December 31 year- end adjustment for its share of JBI net income. Analyze Rowan's entries by showing each entry's effect on the accounting equation- specifically, identify the accounts and amounts (including + or-) for each: Assets Liabilities 1. 2. 3. + + + Equity