216211 ossis Question one: (15 marks Watany Co has the following portfolio of investments 2018, its last reporting date: 30 Sovember Trading securities SOU, Inc. ordinary (16,000 shares) 320.000 300.000 7 RAT, Inc. preference (6,500 shares) 117.000 140.000 WMA Co. ordinary (1,000 shares) 90,000 99.000 Total 527,000 539.000 On December 10, 2018, the SOU shares were sold at a price of $24 per share in addition, 5,000 shares of DAV ordinary shares were acquired ar 525 per share on December 18, 2018. The December 31, 2018, fair values were: RAT S106,000, DAV $132,000 and WMA ordinary $83,000. All the securities are classified as trading In additions the company received dividend from RAT $20,000 when its net income was 100,000 Required: 1-Prepare the journal entries to record the sale, purchase and adjusting entries related to the trading securities in December 2018 under cost fair market method 2- Assuming the company interest in RAT Company is 20%, use equity method to journalize the transaction relate to investment in RAT 1) ., ., ? 320,000 16... Cash 384,00