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What journal entries that abc inc will record throughout

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On 10/3/12 abc inc buy 2000000 shares of energy transfer partners (EPT) dor 40$ per share. The purchase represents less than 5% ownwership stake in EPT. In Dec of 2012, EPT pays a $3 per share dividend to common share holder, and as of 12/31/12 EPT stock worth $38 per share

Problem 1: What journal entries that ABC inc will record throughout 2012 as a result of this investment (please include journal entries for purchase, dividend, and change in market value of ETP)

Problem 2: What is the overall 2012 net income statement impact of the ETP investment for ABC inc

Reference no: EM132838581

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