Condition #$2$:

Johnson Corporation obtained significant influence over Roybark Inc. by buying $40\%$ of Roybark's $130,600$ outstanding shares of common stock at a total cost of $$7$ per share on January $1,2025.$ On May $19,$ Roybark Inc. declared and paid cash dividends of $$41,300$ to all stockholders. On December $31,$ Roybark Inc. reported a net income of $$87,600$ for the year.

Required: Prepare all necessary journal entries in $2025$ for Condition #$1.$ If $"$No Entry" is needed, please indicate $"$No Entry". Round all values to the nearest dollar.