10 On March 31, 2021, Chow Brothers, Inc., bought 5% of KT Manufacturing's capital stock for $55.1 million. KT's net income for the year ended December 31, 2021, was $81.7 million. The fair value of the shares held by Chow was $38.4 million at December 31, 2021. KT did not declare or pay a dividend during 2021. 0.55 points Required: 1. Prepare all appropriate journal entries related to the investment during 2021. 2. Assume that Chow sold the stock on January 20, 2022, for $31.7 million. Prepare the journal entries to record the sale. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that Chow sold the stock on January 20, 2022, for $31.7 million. Prepare the journal entries to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).). No Date General Journal Debit Credit 1 January 20, 2022 Loss on investments (unrealized, NI) 16.7 Fair value adjustment 16.7 X