These are two independent situations:

Carla Vista Cosmetics acquired $13\%$ of the $295,400$ shares of common stock of Elite Fashion at a total cost of $$14$ per share on March $18,2022.$ On June $30,$ Elite declared and paid a $$77,200$ dividend. On December $31,$ Elite reported net income of $$258,880$ for the year. At December $31,$ the market price of Elite Fashion was $$16$ per share.

Flint Inc. obtained significant influence over Kasey Corporation by buying $25\%$ of Kasey's $28,200$ outstanding shares of common stock at a total cost of $$10$ per share on January $1,2022.$ On June $15,$ Kasey declared and paid a cash dividend of $$32,800.$ On December $31,$ Kasey reported a net income of $$111,800$ for the year.

$($a$)$

Your answer is partially correct.

Prepare all the necessary journal entries for $2022$ for Carla Vista 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.$)$

Date Account Titles and Explanation

Debit

Stock Investments

cash

Cash

Stock Investments

Revenue from Stock Investments