The following are independent situations.

Situation $1$:

Monty Cosmetics acquired $10\%$ of the $191,000$ shares of common stock of Martinez Fashion at a total cost of $$13$ per share on March

$18,2025.$ On June $30,$ Martinez declared and paid $$74,500$ cash dividends to all stockholders. On December $31,$ Martinez reported

net income of $$120,500$ for the year. At December $31,$ the market price of Martinez Fashion was $$14$ per share.

Situation $2$:

Flounder, Inc. obtained significant influence over Seles Corporation by buying $40\%$ of Seles's $31,700$ outstanding shares of common

stock at a total cost of $$8$ per share on January $1,2025.$ On June $15,$ Seles declared and paid cash dividends of $$32,600$ to all

stockholders. On December $31,$ Seles reported a net income of $$81,300$ 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.$)$