Required information

Ekercise $12-16($Algo$)$ Equity investments; fair value through net income $[$LO$12-5]$

$($The fallowing information applles to the questions displisyed belowJ

Jackson industry's net intome for the year ended Decamber $31,2024,$ was $\backslash (\backslash$$ $132\backslash )$ million. The falt value of the shares trutd by Senborn was $\backslash (\backslash$$ $122\backslash )$ million at December $31.2024.$ During $2024,$ Jackson declared a dividend of $\backslash (\backslash$$ $72\backslash )$ million,

Exercise $12-16($Algo$)$ Part $2$

$2.$ Assume the Sanbarin sold the stack on January $2,2025$ for $\backslash (\backslash$$ $134\backslash )$ million, Prepare the journal entries Santion would use to record the sale.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required$*$ in the first account field. Enteryour answers In millions rounded to $1$ decimal place $($le$.,5,500,000$ should be entered as $5\mathrm{.}5),$