NEXT Weygande Help System Announcements CALCULATOR PRINTER VERSION BACK Edelman Inc. acquired 10% of the 500,000 shares of common stock of Schuberger Corporation at a total cost of $11 per share on June 17, 2020. On September 3, Schuberger declared and paid a $160,000 dividend. On December 31, Schuberger reported net income of $550,000 for the year. (b) Wen Corporation obtained significant influence over Munsaker Company by buying 30% of Hunsaker's 100,000 outstanding shares of common stock at a cost of $18 per share on January 1, 2020. On May 15, Hunsaker declared and paid a cash dividend of $150,000. On December 31, Hunsaker reported net income of $270,000 for the year. Prepare all necessary Journal entries for 2020 for (a) Edelman and (b) Wen (If ne entry is required, select "No entry for the account tities and enter for the amounts. Credit account tities are automatically indented when amount is entered. Do not indent manually. Record entries in the order presented in the problem.) Date Account Tities and Explanation Debit Credit (a) (b)