Required information [The following information applies to the questions displayed below. Felicia Company acquired 22,000 of the 55,000 shares of outstanding common stock of Nueces Corporation as a long term investment. The annual accounting period for both companies ends December 31. The following transactions occurred during the year: Jan. 10 Purchased 22,000 shares of Nueceu common stock at $14 per share. Dec. 31 Nueces Corporation reported net income of $104,000. Dec. 31 Nueces Corporation declared and paid a cash dividend of S0.70 per share. Dec. 31 Determined the fair value of Nueces stock to be $13 per share. 2. Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)