Trial balance data for Peanut and Snoopy as of December 31, 1018 follows. Peanut company acquired (Plug in the percentage you have been assigned, when the book value of Snoopy's net assets was equal to $344,000. Peanut uses the equity method to account for investments. Peanut Company Snoopy Company 80,000 82,000 94,000 463,300* 168,000 212,000 0" 210,000 714,000 196,000 47,000 91,000 190,000 111,000 9,000 Cash Accounts receivable Inventory Investment in Snoopy Land Building and Equipment Cost of Goods Sold depreciation Expense Selling & administrative Expense Dividends declared Accumulated Depreciation Accounts Payable Bonds Payable Common Stock Retained Earnings Sales Income from Snoopy Total Instructions: 223,000 90,000 38,000 27,000 18.000 444,000 64,000 182,000 483,000 356,300 794,000 49,000 68,000 181.000 163,000 243,000 2,323,300 2,323,300 722,000 722,000 a) Prepare the journal entries in Peanut Company books to record the transaction related to the investment in Snoopy. 1- Acquisition of (94%) of shares in Soogpx for 194% * $344,000) cash 2 on December 31, 2018 received a cash dividends of $ $27,000 X (94%) 3-on December 31, 2018 Snoopy determined its net income