Situation $1$

Crane Tables acquired $15\%$ of the $4,800,000$ shares of common stock of Robot Sofas at a total cost of $$8\mathrm{.}50$ per share on April $1,2025.$ On August $8,$ Robot Sofas declared and paid a $$245,000$ cash dividend. On December $31,$ Robot Sofas market price was $$9\mathrm{.}00$ per share and the company reported net income of $$645,000$ for the year.

Situation $2$

On January $1,2025,$ Windsor Company purchased $40\%$ of Santos Corporation $492,000$ outstanding shares of common stock at a total cost of $$12$ per share, On October $25,$ Santos declared and paid a cash dividend of $$0\mathrm{.}40$ per share. On December $31,$ Santos reported a net income of $$874,000$ for the year and the market price of its common stock was $$13$ per share.

Prepare all necessary journal entries in $2025$ for both situations. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record joumal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Situation $1$: Crane Tables

Cash

Cash

Dividend Revenue

$[$

No Entry

Situation $2$: Windsor Company.

Investments

Cash

Cash

Investments