Your answer is partially correct. The following are two independent situations. 1. 2. Blossom Cosmetics acquired 10% of the 100,000 shares of common stock of Nevins Fashion at a total cost of $10 per share on March 18, 2022. On June 30, Nevins declared and paid a $40,000 dividend. On December 31, Nevins reported net income of $110,000 for the year. At December 31, the market price of Nevins Fashion was $12 per share. Nash, Inc., obtained significant influence over Rogan Corporation by buying 30% of Rogan's 20,000 outstanding shares of common stock at a total cost of $5 per share on January 1, 2022. On June 15, Rogan declared and paid a cash dividend of $20,000. On December 31, Rogan reported a net income of $70,000 for the year. Prepare all the necessary journal entries for 2022 for (a) Blossom Cosmetics and (b) Nash, Inc. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Jan. 1 Stock Investments Cash 30000 Mar. 18 Fair Value Adjustment-Available-for-Sale 100000 Cash June 15 Cash Stock Investments June 30 Cash Dividend Revenue Dec. 31 Fair Value Adjustment-Stock Unrealized Gain or Loss-Equity 6000 4000 50000 30000 100000 6000 4000 50000