Question: please show me how you got the answer Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 62,000

please show me how you got the answer

Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 62,000 shares of Grecco Conpany conmon stock for $586,080 cash. Grecco has 186,080 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. September 1 Grecco declared and paid a cash dividend of $1.50 per share. December 31 Grecco announced that net incore for the year is $516,900. Year 2 June 1 Greceo declared and paid a cash dividend of $1,60 per share. Decenber 31 Grecco announced that net incone for the year is $750,400. December 31 Kodax sold 12,000 shares of Grecco for $170,080 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate ilculations and round your final answers to the nearest dollar amount.)

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