P16-18 During the second half of 20X2, the operations of Regency Systems generated excess cash, which the company invested in securities, as follows: July 3 Purchased 3.000 shares of common stock as a trading investment, paying $9.25 per share. Aug. 14 Sep. 15 Nov. 24 Received semiannual cash dividend of $0.32 per share on the trading invest- ment. Sold the trading investment for $10.50 per share. Purchased trading investments for $226.000. Dec. 31 Adjusted the trading securities to their market value of $221,000. Required 1. Record the transactions in the journal of Regency Systems. Explanations are not required. 2. Post to the Short-Term Investment account. Then show how to report the short-term investment on the Regency Systems balance sheet at December 31.