roblem 3-Equity Investments (20 Points) On January 2, Froxel Company purchased 10,000 shares of Sandia Corp. common stock at $1 share plus a $3,000 commission. This represents 30% of Sandia Corp.'s outstanding stock. On August 6, Sandia Corp. declared and paid cash dividends of $1.75 per share, and on December 31 it reported net ncome of $150,000. Prepare the necessary entries for Froxel to account for these transactions and vents. 9 per