Ivanhoe Carpomtinn purchased fur $320,000 a 25% interest in Murphy, Inc. This investment enables Ivanhoe to exert signicant inuence over Murphy....

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Ivanhoe Carpomtinn purchased fur $320,000 a 25% interest in Murphy, Inc. This investment enables Ivanhoe to exert significant influence over Murphy.During the year, Murphy earned net income of $169,000 and paid dividends of $52,000. Prepare Ivanhoe's journal entria related to this Inmtment. {Credit amunt tifles are autumati'eaiiy indented when amount is entered. Do notindent manuai'iy. Ii" no entry is required, seieet "No Entry" for the actual-it titles and enter a for the annual-i3.) Immune-Ind Elqlhnuflon Debit Gull: (To record the puchase.) (To record the net hm.) (To record the dividend.)