The beginning balance sheet of New Technology Corporation included the following:

{Requirements}
1. Record the transactions in the journal of New Technology Corporation, 2. Post entries to the \(T\)-account for Long-Term Investment in MSC and determine its balance at December 31, 2020.
3. Show how to report the Long-Term Non-strategic Investment and the Long-Term Investment in MSC accounts on New Technology's balance sheet at December 31, 2020.

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Long-Term Investment in MSC Software (equity-method investment)... $619,000 New Technology completed the following investment transactions during the year 2020: Mar. 16 Purchased 2,000 shares of ATI Inc. as a long-term non-strategic investment, paying $12.25 per share May 21 Received cash dividend of $0.75 per share on the ATI investment Aug. 17 Received cash dividend of $81,000 from MSC Software Dec. 31 Received annual report from MSC Software. Net income for the year was $550,000. Of this amount, New Technology's proportion is 22%. At year-end, the fair values of New Technology's investments are ATI, $25,700, and MSC, $700,000. The company reports any changes in fair value through other comprehensive income.