Accounting for Equity Securities-Noninfluential The Dale Company had the following transactions and adjustment related to a stock investment: 2016 Nov. 15 Purchased 5.000 shares of Lake, inc's common stock at 315.75 per share plus a brokerage commission of 3900 . Dale Company expects to sell the stock in the near future. Dale is unable to exercise any significant control over take. Dec 22 Recelved a cash dividend of $1.00 per share of common stock from Lake Dec. 31 Made the adjusting, entry to refiect year-end tair value of the stock investment in take. The year.end market price of the Lake common stock is $17.25 per share. 2013 Jan.20 Sold all 5,000 shares of the take common stock for $85,400 Record the transactions and adjustment for Dale Company using journal entries