P16-1A During the second half of 20X4, the operations of Maine Lobsters, Inc., generated excess cash, which the company invested in securities, as follows: July 2 Aug. 21 Sep. 16 Oct. 8 Purchased 3,500 shares of common stock as a trading investment, paying $12.75 per share. Received semiannual cash dividend of $0.45 per share on the trading investment. Sold the trading investment for $13.50 per share. Purchased trading investments in stock for $136,000. Dec. 31 Adjusted the trading securities to their market value of $130.000. Required 1. Record the transactions in the journal of Maine Lobsters, Inc. Explanations are not required. 2. Post to the Short-Term Investments account, and show how to report the short-term investments on Maine Lobster's balance sheet at December 31.