Trim Corporation acquired 100 percent of Round Corporation's voting common stock on January 1, 20X2, for $402,000. At that date, the book values and fair values of Round's assets and liabilities were equal. Round reported the following summarized balance sheet data: $109,000 202,000 Assets $713,0000 Accounts Payable Bonds Payable Common Stock 115,000 287,000 Retained Earnings Total $713,000 Total $713,000 Give the journal entries recorded by Trim Corporation during 20X2 on its books if Trim accounts for its investment in Round using the equity method A. Record the initial investment in Round Corporation B. Record Trim Corp.'s 100% share of Round Corp.'s 20X2 income C. Record Trim Corp.'s 100% share of Round Corp.'s 20X2 dividend. Give the consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements Round reported net income of $82,000 for 20X2 and paid dividends of $31,000