! 7 Part 1 of 2 Required information [The following information applies to the questions displayed below.] Below are selected T-accounts related to equity investments for William Company. Investments 9.23/10 points awarded 1/1 Balance Purchase 83,630 12,846 Share of affiliate's earnings ? 10,121 Share of affiliate's dividends Scored 12/31 Balance 89,410 Equity in Investee Earnings 0 ? 1/1 Balance 3,055 Share of affiliate's earnings 12/31 Balance Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $62,700; the affiliates also reported $5,990 in net income for the year. Prepare the year-end journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction 1 a Investments Cash 2 b Cash Investments General Journal 3 c1 No journal entry required Debit Credit 12,846 12,846 10,121 10,121 4 c2 Investments 3,055 Equity in investee earnings 3,055