Question: Need help with journal entry for part 2 only. Journal entry for equinox products Purchased 40,000 shares of Pinkberry Co. stock directly from the founders

Need help with journal entry for part 2 only. Journal entry for equinox products

Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. PART 2 Pinkberry Co. recorded total earnings of $240,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income.

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