The following are two independent situations. Situation 1 Monty Cosmetics acquired 10% of the 207,000 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 $70,100 cash dividend to all stockholders. On December 31, Martinez reported net income of $112,700 for the year. At December 31, the market price of Martinez Fashion was $15 per share. Situation 2 Flounder, Inc. obtained significant influence over Seles Corporation by buying 40% of Seles's 30,800 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 $33,000 to all stockholders. On December 31, Seles reported a net income of $86,300 for the year. Prepare all necessary journal entries in 2020 for both situations. (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 O for the amounts.) Date Account Titles and Explanation Debit Situation 1: Monty Cosmetics Mar. 18, 2020 Debt Investments Cash June 30, 2020 Cash 289800 7010 Credit 28980X Mar. 18, 2020 Debt Investments Cash June 30, 2020 Cash Dividend Revenue Situation 1: Monty Cosmetics Dec. 31, 2020 Fair Value Adjustment Unrealized Holding Gain or Loss - Equity Situation 2: Flounder, Inc Jan. 1,2020 Debt Investments Cash June 15, 2020 Cash Dividend Revenue 289800 7010 20700 110880 13200 34520 Dec. 31, 2020 Fair Value Adjustment Dividend Revenue 289800 7010 20700 110880 13200 34520 List of Accounts Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Allowance to Reduce Inventory to Market Bad Debt Expense Bonds Payable Cash Call Option Common Stock Cost of Goods Sold Debt Investments Dividend Revenue Dividend Receivable Equity Investments Fair Value Adjustment Futures Contract Assistance Used Futures Contract Gain on Sale of Investments Gain on Settlement of Call Option Gain on Settlement of Put Option Interest Expense Interest Receivable Interest Revenue Inventory Investment Income Loss on Impairment Loss on Sale of Investments Loss on Settlement of Call Option Loss on Settlement of Put Option No Entry Notes Payable Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par - Common Stock Put Option Recovery of Loss from Impairment Retained Earnings Revenue from Investment Sales Revenue Swap Contract Unrealized Holding Gain or Loss - Equity Unrealized Holding Gain or Loss - Income