5M Corporation completed the following transactions, in the order given, for the portfolio of stocks held as equity investments measured at FVNI.

Year 1 1. Purchased 150 shares of Starbux Corporation common stock (par value $1) at $50 per share plus a brokerage commission of 4% and transfer costs of $50 on August 1. 2. Purchased 300 shares of Kolgate Corporation Class A common stock (par value $0.50) at $35 per share plus transfer costs of $75 on September 15. Year 2 1. Purchased 275 shares of Starbux Corporation common stock at $55 per share plus a brokerage commission of 4% and transfer costs of $60 on February 1. 2. Received declared cash dividends of $2.00 per share on the Kolgate Corporation Class A common stock on June 30. 3. Sold 75 shares of Starbux Corporation common stock at $58 per share on August 15.

Starbux, common stock $48 $60

Kolgate, Class A common stock 38 50

c. Record the purchase of Starbux Corporation common stock in Year 2. d. Record the receipt of declared dividends on the Kolgate common stock in Year 2. e. Record the sale of Starbux common stock in Year 2. Assume FIFO (first-in, first-out) order when shares are sold. f. Provide the entry for 5M Corporation on December 31 of Year 2, to adjust the Fair Value Adjustment account. c. Record the purchase of Starbux Corporation common stock in Year 2. d. Record the receipt of declared dividends on the Kolgate common stock in Year 2. e. Record the sale of Starbux common stock in Year 2. Assume FIFO (first-in, first-out) order when shares are sold. f. Provide the entry for 5M Corporation on December 31 of Year 2, to adjust the Fair Value Adjustment account