Required information (The following information applies to the questions displayed below.) On January 2, 2021, Sanborn Tobacco Inc. bought 5% of Jackson Industry's capital stock for $106 million. Jackson Industry's net income for the year ended December 31, 2021, was $136 million. The fair value of the shares held by Sanborn was $130 million at December 31, 2021. During 2021, Jackson declared a dividend of $76 milion Required: 1. Prepare all appropriate journal entries related to the investment during 2021. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (ie, 5,500,000 should be entered as 5.5).) x Answer is 8 No General Jou Transaction 1 Credit Debit 106.0 Investment in equity securities Cash 106.0 2 Dividend revenue Cash Cash Dividend revenue Fair value adjustment Gain on investment (unrealized, NI) of 10 Next >