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What would your explanation be for this journal entry? Common Stock $200,000 Retained Earnings 100,000 Income from Snoopy 75,000 Dividends Declared $20,000 Investment in Snoopy

What would your explanation be for this journal entry?

Common Stock $200,000 Retained Earnings 100,000 Income from Snoopy 75,000 Dividends Declared $20,000 Investment in Snoopy 355,000

Pl explain in your own words. Be elaborative and use simple words. Do not copy I will report.

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