1) On January 2, Yorkshire Company acquired 33% of the outstanding stock of Fain Company for $360,000. For the year ended December 31, Fain Company earned income of $94,000 and paid dividends of $29,000.

Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company.

2) On January 1, Valuation Allowance for TradingInvestmentshad a zero balance. On December 31, the cost of the trading securities portfolio was $69,200, and the fair value was $70,700.

Prepare the December 31 adjusting journal entry to record theunrealized gain or losson trading investments.

3) On January 1, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, the cost of the available-for-sale securities was $99,000, and the fair value was $101,710.

Prepare the adjusting entry to record theunrealized gain or losson available-for-sale investments on December 31.