2013

Jan.	5	Selk purchased 40,000 shares (20% of total) of Kildaire's common stock for $1,200,000.
Oct .	23	Kildaire declared and paid a cash dividend of $4.20 per share.
Dec.	31	Kildaire's net income for 2013 is $1,264,000, and the fair value of its stock at December 31 is $31.00 per share.

2014

Oct.	15	Kildaire declared and paid a cash dividend of $3.10 per share.
Dec.	31	Kildaire's net income for 2014 is $1,576,000, and the fair value of its stock at December 31 is $33.00 per share.

2015
Create Journal entries for the following 1. Selk purchased 40,000 shares (20% of total) of Kildaire's common stock for $1,200,000. 2. Kildaire declared and paid a cash dividend of $4.20 per share. 3. Kildaire's net income for 2013 is $1,264,000, and the fair value of its stock at December 31 is $31.00 per share. 4. Kildaire declared and paid a cash dividend of $3.10 per share. 5. Kildaire's net income for 2014 is $1,576,000, and the fair value of its stock at December 31 is $33.00 per share. 6. Selk sold all of its investment in Kildaire for $1,665,000 cash. 7. Remove any balance related to the fair value		Selk sold all of its investment in Kildaire for $1,665,000 cash.