On January 1, 2017, Oriole Corporation purchased 40% of the common shares of Waterway Company for $185,000. During the year, Waterway earned net income of $91,000 and paid dividends of $22,750. Prepare the entries for Oriole to record the purchase and any additional entries related to this investment in Waterway Company in 2017.Show transcribed image text On January 1, 2017, Oriole Corporation purchased 40% of the common shares of Waterway Company for $185,000. During the year, Waterway earned net income of $91,000 and paid dividends of $22,750. Prepare the entries for Oriole to record the purchase and any additional entries related to this investment in Waterway Company in 2017.
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