a Stock Investment Transactions, Equity Method and Available-for-Sale Securities Inc. is a wholesaler of rock climbing gear. The company began operations on January 1, Year 1. The following trensactions relate to securities acquired by Glacier Products iac, which has a fiscal year ending on December 31: Year 1 Jan. 18. Purchased 7,500 shares of Malme Inc. as an available-for-sale investment at $54 per share, inchoding the brokerage commission Duly 22. A cash dividend of $0.55 per share was recelived on the Malimo stock Oct. 5. Sold 3,400 shares of Malmo Inc. stock at $58 per share less a brokerage commission of $45 Dec. Received a regular cash dividend of $0.55 per share on Malmo Inc. sock 18. Dec. 31 Maimo Inc, is classified as an available-for-sale investment and is adjusted to a fair value of $52 per share Use the valuation allowance for available-for-sale investments account in making the adjustment Year 2 Jan. 25. Purchased an influential interest in Helsi Co. for $720,000 by purchasing 52,000 shares directly from the estate of the founder of Helsi. There are IX,000 shares or Helse Co. stock outstanang. uly 16. Received a cash dividend of so65 per share on Malmo In. stock Dec. Received a cash dividend of $0.65 per share plus an extra dividend of $0.10 per share on Malmo Inc. stock 16. Dec. 31 Received $22,000 of cash dividends on Helsi Co. stock. Helsi Co. reported net income of $90,000 in Year 2 Glaciler Products Inc. uses the equity method of accounting for its investment in Helsi Co $58 per share. Use the valuation allowance fair value from $52 to $58 per share Dec. 31 Malmo Inc. is classified as an avaliable-for-sale investment and is adjusted to a fair value of for available-for-sale investments account in making the adjustment for the increase in Required Net 1. Journalize the entries to record the preceding transactions For a compound transaction, if an amount box does it blank. In your computations, round per share amounts to two decimal In your not require an entry, leave Debit year 1 an. 18 July 22 Dec. 18 31 Previous Ejercicio de avaluc Jan. 25 uly 16 Dec. 16. Dee. 31-Dividends Dec.31-Income Dec. 31-Valuation 2. Prepare the investment-related asset and stockholders equity balance sheet presentation for Glacier Products Inc on December 31, Year 2, assuming that the Retained Earnings balance on December 31, Year 2, s $526,000 i Dec. 31 -Income 2. Prepare the investment-related asset and stockholders equity balance sheet presentation for Glacier Products Inc. on December 31, Year 2, assuming hat the Retained Eannings balance on December 31, Year 2, is $526,000 Balance Sheet (selected items) Current Assets Equity