The following events are for King Investment Inc.:

2020

Feb.

25

Purchased 187,600 shares of Jack Inc. common shares for $175,900. Jack has 938,000 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King.

Oct. 1

Jack declared and paid a cash dividend of $0.45 per share.

Dec.31

Jack announced that profit for the year amounted to $669,000.

2021 April 1

Jack declared and paid a cash dividend of $0.46 per share.

Dec. 31

Jack announced that profit for the year amounted to $752,100.

31

King sold 79,000 shares of Jack for $113,820.

Required:

Prepare general journal entries to record each transaction.(Round per share calculations to 2 decimal places. Round your final answers to the