Simpson Inc. purchased it 40% interest in Flanders Corporations common stock on January 2, 2016 for $350,000. For the year ended December 31, 2016, Flanders Corporation reported net income of $105,000. During the year, Flanders corporation declare and paid cash dividends of $45,00. Simpson Inc. sold Flanders Corporations stock on January 1, 2017, for $400,000. Journalize the following transactions