11. Investments a) The You Corp had the following investment transactions during the year. July 1 The You Corp purchased 10,000 shares of UR Passing Co. shares for $250,000. This represents a 20% ownership share (so you are considered to have significant influence). July 30 UR Passing declared and paid you a $1.50 per share dividend Aug 31 UR Passing reported a net income for the year of $440,000 Sept 15 Needing cash to settle a lawsuit, The You Corp sold 5,000 shares for $100,000 Prepare the required journal entries. b) Redo the above problem assuming that The You Corp classified the investment in UR Passing as a short-term non- strategic investment