Seeking Wealth, Inc. acquired for $2,000,000, a 35% equity interest,in Z-Tech,Inc, on January 1,2019. On October 31, 2019,Z-Tech paid total dividends of $100,000.At December 31,2019, Z-Tech reported $500,000 in net income.Prepare the entries necessary on the books of Seeking Wealth, Inc. to record (1) the purchase of the investment January 1. 2019, (2) the receipt of dividends on October 31, 2019 (3) entry at December 31, 2019.Note: Seeking Wealth, Inc. uses the equity method to account for this investment.

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