1.) On January 1, 2019, Otto Company had 390,000 shares of its $1 par value common stock outstanding. On March 1, Otto sold an additional 748,000 shares on the open market at $10 per share. Otto issued a 20% stock dividend on May 1. On August 1, Otto purchased 414,000 shares and immediately retired the stock. On November 1, 595,000 shares were sold for $15 per share. What is the weighted-average number of shares outstanding for 2019?

2.) Rice Corporation has the following investment which was held throughout 20182019:

Fair Value

Cost 12/31/18 12/31/19

Equity Investment: $972,000 $1,281,000 $1,230,000

The equity investments is recorded using the fair value method as no ownership % is greater than 20%. What is the balance of the Fair Value Adjustment Account-Equity Investments at 12/31/2019?

(Be sure to include debit or credit in your answer for example $10,000 debit)