Accounting for Equity SecuritiesInfluential The Dunn Company had the following transactions and adjustment related to a stock investment:

2016
Jan. 15	Purchased 12,000 shares of Van, Inc.s common stock at $10 per share plus a brokerage commission of $900. These shares represent a 30 percent ownership of Vans common stock.
Dec. 31	Received a cash dividend of $2.25 per share of common stock from Van.
Dec. 31	Made the adjusting entry to reflect income from the Van stock investment. Vans 2016 net income is $85,000.
2017
Jan. 20	Sold all 12,000 shares of the Van common stock for $125,500.

Record the transactions and adjustment of the Dunn Company using journal entries.