WileyPlus:

Situation $1$:

Sweet Cosmetics acquired $10\%$ of the $184\mathrm{.}000$ shares of common stock of Martinez Fashion at a total cost of $$13$ per share on March $18,2025.$ On June $30,$ Martinez declared and paid $$69\mathrm{.}400$ cash dividends to all stockholders. On December $31,$ Martinez reported net income of $$113,000$ for the year. At December $31,$ the market price of Martinez Fashion was $$14$ per share.

Situation $2$:

Pharoah, Inc. obtained significant influence over Seles Corporation by buying $30\%$ of Seles's $31\mathrm{.}400$ outstanding shares of common stock at a total cost of $$9$ per share on January $1,2025.$ On June $15,$ Seles declared and paid cash dividends of $$39,100$ to all stockholders. On December $31,$ Seles reported a net income of $$85\mathrm{.}000$ for the year.

Prepare all necessary journal entries in $2025$ for both situations.