As a long-term investment at the beginning of the fiscal year, Florists International purchased 25% of Nursery Supplies Inc.'s 20 million shares for $75 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $60 million and distributed cash dividends of $1.80 per share. At the end of the year, the fair value of the shares is $71 million.

Required:

Prepare the appropriate journal entries from the purchase through the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) PLEASE CHOOSE FROM THE LIST BELOW TO JOURVALIZE YOUR ENTRIES: No journal entry required Cash Cash surrender value of life insurance Discount on bond investment Fair value adjustment Gain on life insurance settlement Gain on sale of investments Income summary Insurance expense Investment in bonds Investment in Nursery Supplies shares Investment in U.S. treasury bills Investment in U.S. treasury bonds Investment revenue Investment revenue receivable Loss on sale of investments Net unrealized holding gains and lossesI/S Net unrealized holding gains and lossesOCI Other-than-temporary impairment lossI/S Other-than-temporary impairment lossOCI Retained earnings A. Record the investment in Nursery Supplies shares. B. Record the investment revenue in Nursery Supplies shares C. Record the cash dividends received from Nursery Supplies shares. D. Record fair value adjustment at year-end.