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Record appropriate journal entries related to investment

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Question - On January 2, 2018, Killeen Nurseries Inc. bought 5% of Creasote's capital stock for $103 million. Creasotes's net income for the year ended December 31, 2018, was $133 million. The fair value of the shares held by Killeenn was $124 million at December 31, 2018. During 2018, Creasote declared a dividend of $66 million. If no entry is needed, place NA on Journal. Record the appropriate journal entries related to the investment.

Reference no: EM132487312

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