These are two independent situations: 1. Sunland Cosmetics acquired 11% of the 313,700 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2022. On June 30, Elite declared and paid a $82,200 dividend. On December 31, Elite reported net income of $233,070 for the year. At December 31 , the market price of Elite Fashion was \$17 per share. 2. Marigold Inc obtained significant influence over Kasey Corporation by buying 25% of Kasey's 31,600 outstanding shares of common stock at a total cost of $10 per share on J\$huary 1, 2022. On June 15, Kasey declared and paid a cash dividend of $33,500. On December 31, Kasey reported a net income of $129,100 for the year. (a) Prepare all the necessary journal entries for 2022 for Sunland 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 0 for the amounts.)