QZ Appendix D Saved Help Save & Exit Submit Required information [The following information applies to the questions displayed below.) Part 2 of 2 Lisa Company had outstanding 100,000 shares of common stock. On January 10, 2018, Marg Company purchased a block of these shares in the open market at $30 per share, with the intent of holding the shares for a long time. At the end of 2018, Lisa reported net income of $240,000 and cash dividends of $0.30 per share. At December 31, 2018, Lisa Company stock was selling at $28 per share. Skipped 2-a. Prepare the journal entries for Marg Company at the dates indicated for Case A: 15,000 shares purchased. 2-b. Prepare the journal entries for Marg Company at the dates indicated for Case B: 34,000 shares purchased. 3. Complete the following schedule to show the separate amounts that should be reported on the 2018 financial statements of Marg Company: Required information Req 2A Reg 2B Req 3 Part 2 of 2 Prepare the journal entries for Marg Company at the dates indicated for Case A: 15,000 shares purchased. (If no entry is required for transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Skipped 1 Record the acquisition of 15,000 shares of Lisa Company on January 10. 10. 2 Record the entry to recognize the $240,000 net income reported by Lisa Company for 2018. me 3 Record the entry to recognize the dividends paid by Lisa Company. Credit 4 Record the entry to recognize the fair value adjustment of Lisa Company's stock at the end of the year. Note : - journal entry has been entered Required information Req 2A Req 2B Req 3 Part 2 of 2 Prepare the journal entries for Marg Company at the dates indicated for Case B: 34,000 shares purchased. (If no entry is required for transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Skipped 1 Record the acquisition of 34,000 shares of Lisa Company on January 10. 20. 2 Record the entry to recognize the $240,000 net income reported by Lisa Company. me 3 Record the entry to recognize the dividends paid by Lisa Company. Credit 4 Record the entry to recognize the fair value adjustment of Lisa Company's stock at the end of the year. Note : = journal entry has been entered Required information Req 2A Req 2B Req 3 Part 2 of 2 Complete the following schedule to show the separate amounts that should be reported on the 2018 financial statements of Marg Company: (Enter any losses with a minus sign.) Skipped Dollar Amounts Case A Case B Balance Sheet: Long-term Assets: Marketable Equity Securities Investment in Affiliates Income Statement: Dividend Revenue Net Gain (Loss) on Equity Securities Equity in Affiliate Earnings