Return to Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2020, for $192,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2021, Milani purchased an additional 30 percent of Seida for $591,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $1,970,000 in total. Seida's January 1, 2021, book value equaled $1,820,000, although land was undervalued by $139,000. Any additional excess fair value over Seida's book value was attributable to a trademark with an eight-year remaining life. During 2021, Seida reported income of $319,000 and declared and paid dividends of $100,000. Prepare the 2021 journal entries for Milani related to its investment in Seida. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. 1 No Answer is complete but not entirely correct. Transaction 1 Investment in Seida Cash 2 2 3 3 4 General Journal Investment in Seida Equity in Investee Income Equity in Investee Income Investment in Seida Debit Credit 591,000 591,000 127,600 127,600 6,425 6,425 Dividend receivable 40,000 Investment in Seida 40,000 5 5 Cash Dividend receivable 40,000 40,000