Top Team Investments completed the following transactions during 2024: (Click the icon to view the transactions) Requirements 1. Joumalize Top Team's transactions. Explanations are not required. 2. Classify and prepare partial financial statements for Top Team's 30% Tycon investment for the year ended December 31,2024 Requirement 1. Journalize Top Team's transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14. Purchased 900 shares of Tycon stock, paying $50 per share. The investment represents 30% ownership in Tycon's voting stock and Top Team has significant intluence over Tycon. Top Team intends to hold the investment for the indefinite future. Aug. 22: Recelved a cash dividend of $0.78 per share on the Tycon stock. Dec. 31: Tycon's current matket value is $46 per share Dec: 31-Tycon reported net income of $400,000 for the year ended 2024 Requirement 2. Classify and prepare partial financial statements for Top Team's 30% Tycon investment for the year ended December 31,2024. Begin by showing the account and amount of any assets that would appear on Top Team's balance sheet as it relates to the Tycon investment at December 31, 2024. (If a box is not used in the financial statement, leave the box empty, do not select a label or enter a zero.) Complete the partial income statement for the year ended December 31, 2024 as it relates to Top Team's Tycon investment. (Use a minus sign or parentheses to enter a loss. If a box is not used in the financial statement, leave the box empty; do not select a label or enter a zero.) More info Jan. 14 Purchased 900 shares of Tycon stock, paying $50 per share. The investment represents 30% ownership in Tycon's voting stock and Top Team has significant influence over Tycon. Top Team intends to hold the investment for the indefinite future Aug. 22 Received a cash dividend of $0.78 per share on the Tycon stock. Dec. 31 Tycon's current market value of $46 per share. Dec. 31 Tycon reported net income of $400,000 for the year ended 2024