These are two independent situations: 1 Wildhorse Cosmetics acquired 13% of the 277,800 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 $79.400 dividend. On December 31, Elite reported net income of $258,060 for the year. At December 31, the market price of Elite Fashion was $16 per share. 2. Novak Inc obtained significant influence over Kasey Corporation by buying 25% of Kasey's 28,700 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 $38,300. On December 31, Kasey reported a net income of $113,000 for the year. (a) Your answer is partially correct Prepare all the necessary journal entries for 2022for Wildhorse 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 Prepare all the necessary journal entries for 2022 for Wildhorse 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 Mar 18 Stock vesten 594594 Cash 594594 une 30 10022 Dividend Reverso 1032 Dec 31 : Fav Vue Adjustments 127413 Curated Gain or oncom 127413