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The following events are for King Investment Inc.: 2020 Feb. 25 Purchased 183,840 shares of...

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The following events are for King Investment Inc.: 2020 Feb. 25 Purchased 183,840 shares of Jack Inc. common shares for $184,700. Jack has 919,200 common shares outstanding and has acknowledged the fact that its policies will be significantly influenced by King. Oct. 1 Jack declared and paid a cash dividend of $0.40 per share. Dec. 31 Jack announced that profit for the year amounted to $682,380. 2021 April 1 Jack declared and paid a cash dividend of $0.50 per share. Dec. 31 Jack announced that profit for the year amounted to $744,580. 31 King sold 81,370 shares of Jack for $127, 240. Required: Prepare general journal entries to record each transaction. (Round per share calculations to 2 decimal places. Round your final answers to the nearest dollar.) View transaction list X 1 Record the purchase of investment. > Record the collection of dividend. 3 Record the equity share of profits in investment. 4 Record the collection of dividend. 6 Record the equity share of profits in investment. Credit DO 6 Record the sale of investment. 184,700 Note : = journal entry has been entered Record entry Clear entry View general journal

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