10). On August 4, 2015, Jeffrey Corporation purchased 4,000 shares of Kevin Company for $224,000. The following information applies to the stock price of Kevin Company:

	Price
12/31/2015	$	55
12/31/2016		60
12/31/2017		64

Kevin Company declares and pays cash dividends of $3.00 per share on June 1 of each year.

1. Prepare journal entries to record the facts in the case, assuming that Jeffrey purchased the shares for the trading securities portfolio. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare journal entries to record the facts in the case, assuming that Jeffrey purchased the shares for the available-for-sale securities portfolio. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. Prepare journal entries to record the facts in the case, assuming that Jeffrey used the equity method to account for the investment. Jeffrey owns 40 percent of Kevin and Kevin reported $59,000 in income each year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)