Listed below are a few events and transactions of Kodax Company. Year 1 Jan. 2 Purchased 62,000 shares of Grecco Co. common stock for $586,000 cash. Grecco has 186,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Sept. 1 Grecco declared and paid a cash dividend of $1.50 per share. Dec. 31 Grecco announced that net income for the year is $516,900. Year 2 June 1 Grecco declared and paid a cash dividend of $1.60 per share. Dec. 31 Grecco announced that net income for the year is $750,400. Dec. 31 Kodax sold 12,000 shares of Grecco for $170,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) No General Journal Date Tulan 2 Year 1 Credit Debit 586,000 Equity method investments Cash 586,000 Sept. 1, Year 1 93,000 Cash Dividend revenue 93,000 Dec. 31, Year 1 195,333 Equity method investments Earnings from equity method investments 195,334 X June 1, Year 2 99,200 Cash Dividend revenue 0 99,200 Dec. 31, Year 2 250,133 Equity method investments Earnings from equity method investments 0 0 250,134 Dec 31, Year 2 170,000 Cash Equity method investments Gain on sale of stock investments 0 0 0 162,439 7,561