Shares of warner company stock

Reference no: EM13132894

On january 4, 2007 larsen company purchased 5,000 shares of warner company for $59,500 plus a brokers fee of $1,000. warner company has a total of 25,000 shares of common stock outstanding and its presumed that larsen company will have a significant influence over warner. During each of the next two years, warner declared and paid cash dividends of $0.85 per share, and its net income was $72,000 and $67,000 for 2007 and 2008, respectively. The January 12, 2009, entry to record the sale of 3,000 shares of warner company stock for $39,000 cash should be?

Please show me how to make this entry!

Reference no: EM13132894

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