2. Reeves Incorporated buys and sells securities expecting to earn profits on short-term differences in price. They had the following transactions during 2017: April 1 Purchased 100,000 shares of Apple stock for $1,600,000 June 1 Received cash dividend of $20,000 from Apple Dec 31 The stock price of the Apple was $18.50 per share on December 31st. Required: Record the April 1st and June 1st transactions. Make any necessary adjusting entry at the end of the fiscal year December 31, 2017 due to the change in stock price