10. On January 7, 2018, Webb Industries purchased 1,000 shares of Class A common stock in Bloomberg Corporation for $50,000 as an equity investment. Webb does not have significant influcnce or control over Bloomberg. During 2018 Bloomberg paid Webb dividends for $600. Although Class A shares are not actively traded, Class B shares are traded and are nearly identical aside from being publicly traded. At the end of 2018 , Class B shares are trading for $56 per share. Webb makes the appropriate election to measure the investment based on observable price changes for similar securities. On December 12, 2019, Webb industries selis the Bloomberg stock for $60,000. As of the end of 2019 , Webb has no investments in equity securities. Prepare the journal entries to record the purchase of the stock, the sales of the stocks, and any required adjustments at the end of 2018 and 2019