The following are two independent situations. Situation 1 Pina Cosmetics acquired 10% of the 191,000 shares of common stock of Martinez Fashion at a total cost of $14 per share on March 18, 2017. On June 30, Martinez declared and paid $80,900 cash dividend to all stockholders. On December 31, Martinez reported net income of $121,000 for the year. At December 31, the market price of Martinez Fashion was $15 per share. Situation 2 Grouper, Inc. obtained significant influence over Seles Corporation by buying 30% of Seless 29,700 outstanding shares of common stock at a total cost of $10 per share on January 1, 2017. On June 15, Seles declared and paid cash dividends of $33,000. On December 31, Seles reported a net income of $79,200 for the year. Prepare all necessary journal entries in 2017 for both situations. (Credit account titles are a