1 1 Exercise 12-4 (Part Level Submission) During the year ended December 31, 2018, and in the following months of January and February 2019, Greencastle Inc. had the following transactions pertaining to its held for trading investments: Apr. Purchased 2,000 Starr Corporation $5, preferred shares for $212,000 cash. July Received quarterly cash dividend. 2 Sold 500 Starr shares for $57,500 cash. Oct. 1 Received quarterly cash dividend. Nov. 22 Starr declared the quarterly dividend on November 22, to preferred shareholders of record on December 15, payable on January 1. Dec. 31 Starr's shares were trading at $116 per share. Jan. 31 Due to an urgent need for cash, 700 Starr Corporation shares were sold despite a drop in the share price to $90 per share. Feb. 15 Greencastle sold an additional 500 Starr shares after the market recovered to $118 per share. (a - b) Your answer is partially correct. Try again. Record the above transactions, using the fair value through profit or loss model. Prepare any required adjusting entries at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 1, 2018 Held for Trading Investments 212000 Cash 212000 July 1, 2018 Cash 10000 Dividend Revenue 10000 July 2, 2018 Cash 57500 Realized Gain on Held for Trading Investments 4500 Held for Trading Investments 53000 July 2, 2018 Cash 57500 Feb. 15, 2019 Cash 59000 Held for Trading Investments 58000