1. Earth Corporation purchased the following three share investments on October 7, 2022: O marks Description...

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1. Earth Corporation purchased the following three share investments on October 7, 2022: O marks Description Neptune Inc. preferred shares Jupiter Company common shares Mars Enterprises Inc. common shares Number of Shares Purchased Purchase Price Per Fees Paid Purchase of Fair Value Per Share on Share Investment Dec. 31/22 651 $ 43 $ 1,702 $ 47 3,477 $ 10 $ 2,302 $ 9 2,377 $ 20 $ 1,464 $ 18 On June 1, 2023, Earth Corporation received the following amount of dividend income on the Neptune Inc. shares: 664 On December 15, 2023, Earth Corporation sold all of the Jupiter Company shares at the following amount per share: $ 17 The fair values per share for the remaining investments were as follows as of December 31, 2023: Neptune Inc. preferred shares $ Mars Enterprises Inc. common shares 52 20 Earth Corporation has a December 31 year end, and accounts for all these investments using the fair value through other comprehensive income (FV-OCI) method. Assume that Earth Corporation transfers any realized gains or losses on disposals of investments to retained earnings. Required: Prepare all journal entries required for Earth Corporation to account for its investments in Neptune Inc., Jupiter Company, and Mars Enterprises on each of the following dates: (a) December 31, 2022 (3 marks) (b) June 1, 2023 (0.5 marks) (c) December 15, 2023 (4.5 marks) (d) December 31, 2023 (2 marks) 1. Earth Corporation purchased the following three share investments on October 7, 2022: O marks Description Neptune Inc. preferred shares Jupiter Company common shares Mars Enterprises Inc. common shares Number of Shares Purchased Purchase Price Per Fees Paid Purchase of Fair Value Per Share on Share Investment Dec. 31/22 651 $ 43 $ 1,702 $ 47 3,477 $ 10 $ 2,302 $ 9 2,377 $ 20 $ 1,464 $ 18 On June 1, 2023, Earth Corporation received the following amount of dividend income on the Neptune Inc. shares: 664 On December 15, 2023, Earth Corporation sold all of the Jupiter Company shares at the following amount per share: $ 17 The fair values per share for the remaining investments were as follows as of December 31, 2023: Neptune Inc. preferred shares $ Mars Enterprises Inc. common shares 52 20 Earth Corporation has a December 31 year end, and accounts for all these investments using the fair value through other comprehensive income (FV-OCI) method. Assume that Earth Corporation transfers any realized gains or losses on disposals of investments to retained earnings. Required: Prepare all journal entries required for Earth Corporation to account for its investments in Neptune Inc., Jupiter Company, and Mars Enterprises on each of the following dates: (a) December 31, 2022 (3 marks) (b) June 1, 2023 (0.5 marks) (c) December 15, 2023 (4.5 marks) (d) December 31, 2023 (2 marks)