Waters, Inc., acquired 10 percent of Denton Corporation on January 1, 2012, for $320,600 although Dentons book value on that date was $2,100,000. Denton held land that was undervalued by $116,000 on its accounting records. During 2012, Denton earned a net income of $282,000 while paying cash dividends of $106,000. On January 1, 2013, Waters purchased an additional 30 percent of Denton for $755,700. Dentons land is still undervalued on that date, but then by $144,000. Any additional excess cost was attributable to a trademark with a 10-year life for the first purchase and a 9-year life for the second. The initial 10 percent investment had been maintained at cost because fair values were not readily available. The equity method will now be applied. During 2013, Denton reported income of $359,700 and distributed dividends of $135,000.

Prepare all of the 2013 journal entries for Waters.

General Journal	Debit	Credit
To record second acquisition of Denton stock.
To restate reported figures for 2012 to the equity method for comparability.
To record income for the year.
To record collection of dividends from Denton.
To record amortization for 2013.