nsert 8 9 0 Delete 16-13 EXERCISES EX. 16-1 (S O. 2 and 3) The Williams Corporation accumulated the following data for its investments made on January 1, 2012 1. Purchased S100,000. 10%, 10-year Kilgus Corporation bonds for$105,000 n cash as a long-term investment. The bonds pay interest semi-annually on January 1 and July 1. Received the interest due on July 1 Purchased for cash 10% of Walton Inc.'s 400,000 shares of common stock at a cost of $20 per share plus brokers' fees of $5,000. In 2012, Walton reports net income of $100,000, and it declares and pays a $30,000 cash dividend on December 31 2. Acquired 40% of the common stock of Wilkerson Company for $500,000 cash. In 2012, Wilkerson Co and pays a $60,000 cash dividend on December 31 3. mpany reports net income of $70,000, and it declares Instructions (a) Journalize the entries for the bonds on January 1 and July1 (b) Journalize the 2012 entries for the Walton stock, assuming the cost method is used. c) Journalize the 2012 entries for the Wilkerson stock, assuming the equity method is used 3o