Softball Corporation reported the following balances at January 1, 20X9: Item Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Total Assets Accounts Payable Common Stock ($9 par value) Additional Paid-In Capital Retained Earnings Book Value Fair Value $ 50,000 71,000. 117,000 315,000 (159,000) $ 394,000 $ 68,000 90,000 29,000 207,000 $ 50,000 71,000 136,000 241,000 $498,000 $ 68,000 Total Liabilities and Equities es $ 394,000 On January 1, 20X9, Pitcher Corporation purchased 100 percent of Softball's stock. All tangible assets had a remaining economic life of 5 years at January 1, 20X9. Both companies use the FIFO inventory method. Softball reported net income of $32,000 in 20X9 and paid dividends of $4,400. Pitcher uses the equity method in accounting for its investment in Softball. Required: Prepare all journal entries that Pitcher recorded during 20X9 with respect to its investment assuming Pitcher paid $465,000 for the ownership of Softball on January 1, 20X9. The amount of the differential assigned to goodwill is not impaired. (If no entry is required for a transaction/event select "No iournal entry required" in the first