Rowan Company purchases 700 common shares (40%) of JBI Corporation as a long-term investment for $650,000 cash on January 1 . JBI paid $16,250 in total cash dividends on November 1 and reported net income of $325,000 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 JBI net income. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the adjustment required for the investment account. Note: Enter debits before credits