These are two independent situations: 1. Oriole Cosmetics acquired 13% of the 298,600 shares of common stock of Elite Fashion at a total cost of $15 per share on March 18, 2022. On June 30, Elite declared and paid a $76,000 dividend. On December 31, Elite reported net income of $256,940 for the year. At December 31, the market price of Elite Fashion was $16 per share. 2. Cheyenne Inc. obtained significant influence over Kasey Corporation by buying 25% of Kasey's 27,900 outstanding shares of common stock at a total cost of $12 per share on January 1, 2022. On June 15, Kasey declared and paid a cash dividend of $38,000. On December 31, Kasey reported a net income of $118,600 for the year. (a) Prepare all the necessary journal entries for 2022 for Oriole Cosmetics. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts AL At December 31, 2022, the trading debt securities for Crane, Inc. are as follows. Security Cost Fair Value A $18,072 $15,110 B 12,770 14,165 21,920 18,250 Total $52,762 $47,525 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31