Rowan Co. purchases 600 common shares (40%) of JBI Corp. as a long-term investment for $640,000 cash on July 1. JBI Corp. paid $15,500 in total cash dividends on November 1 and reported net income of $310,000 for the year (1)-(3) Prepare Rowan's entries to record the purchase of JBI shares the receipt of its share of JBI dividends and the December 31 year-end adjustment for its share of Jei net income View transaction list Journal entry worksheet 1 2 3 Record the purchase of B1 shares