Required information [The following information applies to the questions displayed below] On January 2, 2024, Sanborn Tobacco incorporated bought 5% of Jackson Industry's capital stock for $90 million. Jackson Industry's net income for the year ended December 31, 2024, was $120 million. The fair value of the shares held by Sanborn was $98 million at December 31, 2024. During 2024, Jackson declared a dividend of $60million. Required: 1. Prepare all appropriate journal entries related to the investment during 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first occount field. Enter your answers n millions (i.e., 10,000,000 should be entered as 10). Journal entry worksheet Record the purchase of Jackson Industry capital stock for $90 million. Journal entry worksheet 4 Record Sanborn Tobacco's portion of Jackson Industry's net income of $120 million. Note: Enter debits before credits. Journal entry worksheet 1 Record the dividend revenue. Note: Enter debits before credits. Journal entry worksheet 1 Record the fair value adjustment. Note: Enter debits before credits