Required information [The following information applies to the questions displayed below.] The following information pertains to Cappio Corporation and its investee Maxwell Company: a. Cappio purchased 2,200 shares of Maxwell on August 4, 2021, for $92,400; b. Maxwell reported $57,000 net income on December 31, 2021; C. Maxwell's stock price was $51 on December 31, 2021; d. Maxwell declared and paid a $5 per share cash dividend on June 1, 2022; e. Maxwell reported $57,000 net income on December 31, 2022; and f. Maxwell's stock price was $46 on December 31, 2022. 2. Prepare journal entries to record the facts in the case, assuming Cappio owns 27 percent of Maxwell's stock. Maxwell reported $57,000 of net income each year. TIP: Ownership of 27 percent implies Cappio's investment provides it with significant influence over Maxwell. (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 A B C D E F > Record the purchase of 2,200 shares (27%) of Maxwell Company for $92,400. The company will record the investment under the equity method of accounting. Note: Enter debits before credits. General Journal Debit Credit Date August 04, 2021 Record entry Clear entry View general journal