Manson Incorporated reported investments in equity securities of $60,495 as a current asset on its December 31, 2018, balance sheet. An analysis of Manson’s investments on December 31, 2018, reveals the following:

During 2019, the following transactions related to Manson’s investments occurred:
Jan. 6 Received a $265 dividend on the Turben Company common stock.
Mar. 31 Received the semiannual dividend of $500 on the Web Engines preferred stock. The following information is available concerning Manson’s investments:
Equity Security ................................Fair Value
Turben Company .............................$13,470
Cook Corp. ..........................................13,765
Hill Corp. .............................................18,940
Web Engines .......................................15,500

June 30 Received a $375 dividend on the Cook Corp. common stock and a $700 dividend on the Hill Corp. common stock. The information is available concerning Manson’s investments:

Equity Security .......................................Fair Value
Turben Company ....................................$13,300
Cook Corp. ................................................14,125
Hill Corp. ...................................................19,300
Web Engines ............................................15,400
July 6 Sold the Turben Company common stock for $13,750.
Sept. 29 Received the semiannual dividend of $500 on the Web Engines preferred stock. The following information is available concerning Manson’s investments:

Equity Security .................................Fair Value
Cook Corp. ........................................$14,230
Hill Corp. .............................................19,500
Web Engines ......................................15,900
Nov. 2 Sold the Hill Corp. common stock for $19,780.
Dec. 30 Received a $375 dividend on the Cook Corp. common stock. The following information is available:
Equity Security ...............................Fair Value
Cook Corp. .....................................$14,280
Web Engines ...................................16,400

Required:
1. Assuming Manson prepares quarterly financial statements, prepare journal entries to record the preceding information.
2. Show the items of income or loss from investment transactions that Manson reports for each quarter of 2019.
3. Show how Manson’s investments are reported on the balance sheet on March 31, 2019; June 30, 2019; September 30, 2019; and December 31, 2019.

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Equity Security 400 shares of Turben Company, common 500 shares of Cook Corp. common stock 700 shares of Hill Corp. common stock 200 shares of Web Engines, preferred stock Totals Cost Fair Value $14,275 12,650 17,450 19,100 $63,475 $13,590 13,175 18,180 15,550 $60,495