Presented below are two independent situations:

$($a$)$ Oriole Inc. acquired $10\%$ of the $415,000$ shares of common stock of Schuberger Corporation at a total cost of $$12$ per share

on June $17,2022.$ On September $3,$ Schuberger declared and paid a $$115,000$ dividend. On December $31,$ Schuberger

reported net income of $$515,000$ for the year.

$($b$)$ Sheffield Corporation obtained significant influence over Hunsaker Company by buying $30\%$ of Hunsaker's $115,000$

outstanding shares of common stock at a cost of $$15$ per share on January $1,2022.$ On May $15,$ Hunsaker declared and paid a

cash dividend of $$115,000.$ On December $31,$ Hunsaker reported net income of $$215,000$ for the year.

Prepare all necessary joumal entries for $2022$ for $($a$)$ Oriole and $($b$)$ Sheffield. $($List all debit entries before credit entries. If no entry is

required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is

entered. Do not indent manually. Record entries in the order presented in the problem.$)$

Date

Account Titles and Explanation

$($a$)$

$($b$)$

Debit

Credit