The following are two independent situations. 1. Sheridan Cosmetics acquired 15% of the 142,000 shares of common stock of Nevins Fashion at a total cost of $15 per share on March 18, 2020. On June 30, Nevins declared and paid a $56,900 dividend. On December 31, Nevins reported net income of $112,900 for the year. At December 31, the market price of Nevins Fashion was $17 per share. 2. Pina, Inc., obtained significant influence over Rogan Corporation by buying 30% of Rogans 27,600 outstanding shares of common stock at a total cost of $9 per share on January 1, 2020. On June 15, Rogan declared and paid a cash dividend of $27,900. On December 31, Rogan reported a net income of $71,500 for the year.

Prepare all the necessary journal entries for 2020 for (a) Sheridan Cosmetics and (b) Pina, Inc.