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Wicker, Inc. purchased 10,000 shares of Domino Corp. common stock at a cost of $30 per share on January 1, 2022. Information taken from Domino's
Wicker, Inc. purchased 10,000 shares of Domino Corp. common stock at a cost of $30 per share on January 1, 2022. Information taken from Domino's financial statements reveal the following for 2022 and 2023 2022 2023 Net Income Dividends Paid $150,000 $ 50,000 $200,000 $ 80,000 The fair market value of Domino's stock was $28 per share on December 31, 2022, and $33 per share on December 31, 2023. REQUIRED: 1) Prepare the journal entries on Wicker's books for the investment in Domino stock from January 1, 2022 through December 31, 2023, assuming the investment represented a 10% interest in Domino. 2) Prepare the journal entries on Wicker's books for the investment in Domino stock from January 1, 2022 through December 31, 2023, assuming the investment represented a 40% interest in Domino
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