LACK CALCULATOR PRINTER VERSION Question 7 The following are two independent situations. 1. Carla Vista Cosmetics acquired 10% of the 242,500 shares of common stock of Nevins Fashion at a total cost of $12 per share on March 18, 2020. On June 30, Nerds dedared and paid a $52,600 dividend. On December 31, Nevins reported net income of $112,000 for the year. At December 31, the market price of Nevins Fashion was $14 per share. 2. Metlock, Inc., obtained significant influence over Rogan Corporation by buying 40% of Rogan's 32,100 outstanding shares of common stock at a total cost of $5 per share on January 1, 2020. On June 15, Rogan declared and paid a cash dividend of $35,600. On December 31, Rogan reported a net income of $90,000 for the year. Prepare all the necessary foumal entries for 2020 for (a) Carla Vista Cosmetics and (b) Metlock, Inc. (Credit account titles are automatically indonted when woont is entered Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit (b) Date Account Titles and Explanation Debit Credit (a) (b)