= Homework: Week Two Question 4, BE16-7 (similar to) Part 1 of 2 HW Score: 26.47%, 5.82 of 22 points O Points: 0 of 1 Save Timbuk Tires, Inc. acquired 43,000 shares of Alaska Corporation stock at a price of $34 per share during 2016. This investment does not allow Timbuk to participate in the decision making of Alaska and therefore, the company does not have the ability to exert significant influence over the investee company. The market value of the shares at December 31, 2016, is $38 per share. Prepare the journal entries required on the date of acquisition and at the end of the year. Prepare the journal entry required on the date of acquisition. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Acquisition