The following information pertains to Rossow Corporation and its investee Reimer Company: a. Rossow purchased 1,600...

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The following information pertains to Rossow Corporation and its investee Reimer Company: a. Rossow purchased 1,600 shares of Reimer on July 12, 2021, for $46,400; b. Reimer reported $37,000 net income on December 31, 2021; c. Reimer's stock price was $33 on December 31, 2021; d. Reimer declared and paid a $3 per share cash dividend on May 1, 2022; e. Reimer reported $37,000 net income on December 31, 2022; and f. Reimer's stock price was $30 on December 31, 2022. 2. Prepare journal entries to record the facts in the case, assuming Rossow owns 35 percent of Reimer's stock. Reimer reported $37,000 of net income each year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B C D E F Record the purchase of 1,600 shares (35%) of Reimer Company for $46,400. The company will record the investment under the equity method of accounting. The following information pertains to Rossow Corporation and its investee Reimer Company: a. Rossow purchased 1,600 shares of Reimer on July 12, 2021, for $46,400; b. Reimer reported $37,000 net income on December 31, 2021; c. Reimer's stock price was $33 on December 31, 2021; d. Reimer declared and paid a $3 per share cash dividend on May 1, 2022; e. Reimer reported $37,000 net income on December 31, 2022; and f. Reimer's stock price was $30 on December 31, 2022. 2. Prepare journal entries to record the facts in the case, assuming Rossow owns 35 percent of Reimer's stock. Reimer reported $37,000 of net income each year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B C D E F Record the purchase of 1,600 shares (35%) of Reimer Company for $46,400. The company will record the investment under the equity method of accounting.

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