The following are independent situations.

Situation $1$:

Kingbird Cosmetics acquired $10\%$ of the $215,000$ shares of common stock of Martinez Fashion at a total cost of $$12$ per share on March $18,2025.$ On June $30,$ Martinez declared and paid $$74,000$ cash dividends to all stockholders. On December $31,$ Martinez reported net income of $$127,600$ for the year. At December $31,$ the market price of Martinez Fashion was $$13$ per share.

Situation $2$:

Oriole, Inc. obtained significant influence over Seles Corporation by buying $30\%$ of Seles's $31,300$ outstanding shares of common stock at a total cost of $$9$ per share on January $1,2025.$ On June $15,$ Seles declared and paid cash dividends of $$36,600$ to all stockholders. On December $31,$ Seles reported a net income of $$80,100$ for the year.

Prepare all necessary journal entries in $2025$ for both situations. $($List all debit entries before credit entries. Credit account titles are automatically indented when 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. Record journal entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

Situation $1$: Kingbird Cosmetics

Situation $1$: Kingbird Cosmetics

Situation $2$: Oriole, Inc