Market Research Syndicate Acquired 100 Shares of Catskill Tools for $450,000

Market Research Syndicate acquired 100 shares of Catskill Tools for $450,000 on January 1,2X13.During 2X13,Catskill Tools declared and paid a total of $8,000 in dividends and reported net income of $50,000.Market Research Syndicate plans on holding the investment for a long time.
1.Assuming Market Research Syndicate owns 40% of Catskill Tools,prepare journal entries for Market Research Syndicate for the following events:
a)acquisition
b)recognition of net income
c)dividends
2.Assuming Market Research Syndicate owns 10% of Catskill Tools,prepare journal entries for Market Research Syndicate for the following events:
a)acquisition
b)recognition of net income
c)dividends