E13-8 Presented below are two independent situations.

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Presented below are two independent situations.
1. Heath Cosmetics acquired 15% of the 200,000 shares of common stock of Van Fashion at a total
cost of $13 per share on March 18, 2008. On June 30,Van declared and paid a $60,000 dividend.
On December 31,Van reported net income of $122,000 for the year. At December 31,
the market price of Van Fashion was $15 per share.The stock is classified as available-for-sale.
2. Yoder, Inc., obtained significant influence over Parks Corporation by buying 30% of Parks
30,000 outstanding shares of common stock at a total cost of $9 per share on January 1, 2008.
On June 15, Parks declared and paid a cash dividend of $30,000. On December 31, Parks
reported a net income of $80,000 for the year.

Instructions
Prepare all the necessary journal entries for 2008 for (a) Heath Cosmetics and (b) Yoder, Inc.