The following are two independent situations. Situation 1 Bonita Cosmetics acquired 10% of the 214,000 shares of common stock of Martinez Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Martinez declared and paid $79,700 cash dividend to all stockholders. On December 31, Martinez reported net income of $110,600 for the year. At December 31, the market price of Martinez Fashion was $15 per share. Situation 2 Windsor, Inc. obtained significant influence over Seles Corporation by buying 30% of Seless 29,800 outstanding shares of common stock at a total cost of $9 per share on January 1, 2020. On June 15, Seles declared and paid cash dividends of $35,800 to all stockholders. On December 31, Seles reported a net income of $92,300 for the year.