Situation $1$

Wildhorse Tables acquired $15\%$ of the $4,600,000$ shares of common stock of Robot Sofas at a total cost of $$8\mathrm{.}10$ per share on April $1,2025.$ On August $8,$ Robot Sofas declared and paid a $$253,000$ cash dividend. On December $31,$ Robot Sofas market price was $$8\mathrm{.}60$ per share and the company reported net income of $$698,000$ for the year.

Situation $2$

On January $1,2025,$ Indigo Company purchased $40\%$ of Santos Corporation $471,000$ outstanding shares of common stock at a total cost of $$13$ per share. On October $25,$ Santos declared and paid a cash dividend of $$0\mathrm{.}40$ per share. On December $31,$ Santos reported a net income of $$895,000$ for the year and the market price of its common stock was $$14$ 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 $0$ for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

Date Account Titles and Explanation Debit Credit

Situation $1$: Wildhorse Tables

choose a transaction date Jan. $1,2025$Apr. $1,2025$Aug. $8,2025$Oct. $25,2025$Dec. $31,2025$ enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date Jan. $1,2025$Apr. $1,2025$Aug. $8,2025$Oct. $25,2025$Dec. $31,2025$ enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date Jan. $1,2025$Apr. $1,2025$Aug. $8,2025$Oct. $25,2025$Dec. $31,2025$ enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

Situation $2$: Indigo Company

choose a transaction date Jan. $1,2025$Apr. $1,2025$Aug. $8,2025$Oct. $25,2025$Dec. $31,2025$ enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date Jan. $1,2025$Apr. $1,2025$Aug. $8,2025$Oct. $25,2025$Dec. $31,2025$ enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount

choose a transaction date Jan. $1,2025$Apr. $1,2025$Aug. $8,2025$Oct. $25,2025$Dec. $31,2025$ enter an account title enter a debit amount enter a credit amount

enter an account title enter a debit amount enter a credit amount