Required:
Prepare Dated Journal Entries for Ocean Enterprises for 2020

Required:
Prepare dated journal entries for Ocean Enterprises for 2020 to account for its investment in Zebrafish and any related income therefrom.
$\begin{array}{|l|r|}\hline \text { At January 1, 2019-purchase of } 15 \% & \$ 150,000 \\\hline \text { LO19 revaluation } & \underline{15,000} \\\hline \text { Balance-Dec. } 31,2019(15 \%) & \$ 165,000 \\\hline \text { Additional purchase (10\%)-January 1, 2020 } & \underline{110,00} \\\hline \text { Balance (25\%) } & \$ 275,000 \\\hline \text { July 1, 2020-Sale of 12,500shares } & \underline{137,500} \\\hline \text { Balance }(12.5 \%) & 137,500 \\\hline 2020 \text { revaluation }(12,500 \times \$ 12.50)-137,500 & 18,750 \\\hline \text { Investment account balance-Dec. } 31,2020 & \$ 156,250 \\\hline\end{array}$