Problem D-2A (Algo) Account for investments using the equity method (LO D-3) As a long-term investment at the beginning of the year, Willie Winn Track Shoes purchased 20% of Betty Will Company's 26 million shares outstanding for $170 million. During the year, Betty Will earned net income of $122 million and distributed cash dividends of $1.30 per share. View transaction list Journal entry worksheet < 1 2 3 Record the purchase of common stock. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet > 1 2 3 Record the share of net income. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet > 1 2 3 Record the receipt of dividends. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit Record entry Clear entry View general journal