The following are two independent situations. Indigo Cosmetics acquired 10% of the 184,000 shares of common stock of Martinez Fashion at a total cost of S13 per share on March 18, 2017. On June 30, Martinez declared and paid $69, 400 cash dividend to all stockholders. On December 31, Martinez reported net Income of $113,000 for the year. At December 31, the market price of Martinez Fashion was $14 per share. Sweet, Inc. obtained significant influence over Seles Corporation by buying 30% of Seles's 31, 400 outstanding shares of common stock at a total cost of $9 per share on January 1, 2017. On June 15, Seles declared and paid cash dividends of $39, 100. On December 31, Seles reported a net income of $85,000 for the year. Prepare all necessary journal entries in 2017 for both situations