Your company acquired 15% of the 5 million shares of common stock of Robot Sofas at a total cost of $8.50 per-share on April 1, 2017 . on August 8 robot sofas declared and paid a $250,000 cash dividend to stockholders of record on that date on December 31, 2017 robots of this market price was nine dollars per share any reported a net income of $56,000for the year. Prepare all necessary journal entries for the company for 2017.