Reden Corporation purchased 35 percent of Montgomery Company’s common stock on January 1, 20X9,…

Reden Corporation purchased 35 percent of Montgomery Company’s common stock on January 1, 20X9, at underlying book value of $226,100. Montgomery’s balance sheet contained the following stockholders’ equity balances:

Preferred Stock ($5 par value, 48,000 shares issued and outstanding) $ 240,000
Common Stock ($1 par value, 136,000 shares issued and outstanding) 136,000
Additional Paid-In Capital 185,000
Retained Earnings 325,000
Total Stockholders’ Equity $ 886,000

Montgomery’s preferred stock is cumulative and pays a 5 percent annual dividend. Montgomery reported net income of $100,000 for 20X9 and paid total dividends of $43,000.
Give the journal entries recorded by Reden Corporation for 20X9 related to its investment in Montgomery Company common stock.(If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)

1.Record the purchase of Montgomery Company stock.

account debit credit
Investment in Montgomery comopany stock 226100
cash 226100

2).Record the dividend from Montgomery Company.

account debit credit
nvetment in Montgomery company stock

3)Record the equity-method income.s

Account Debit Credit
Investment in Montgomery Company stock
Income from Montgomery Company

I already answered the 1st journal entery and gave the answers for the correct accounts for all. I just need the numbers. ( it is not 15050 either)

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