Acer Company purchased the following investments in 2020. January 1: Company T, 10,000 shares, market price of $8 per share (a 5% investment) February 1: Company E, 20,000 shares, market price of $10 per share (a 30% investment) June 1: Company T declared and paid a cash dividend of $3 per share to its owners. July 1: Company E declared and paid a cash dividend of $2 per share to its owners. On December 31, 2020 each of the investments reported the following net income to its investors: Company T $100,000 Company E $200,000 On December 31, 2020 each of the investments had the following market price per share: Company T $12 Company E $ 8

1. For the two investments combined, how much dividend income did Acer Company recognize in 2020? _____________

2. For the two investments combined, how much Unrealized Gain or Loss did Acer recognize in the Income Statement for 2020? _______________

3. For the two investments, how much Income from Investee would Acer recognize in the Income Statement for 2020? ______

Prepare all journal entries on the books of Acer Company for the investment activity above.

January 1:

February 1:

June 1:

July 1:

December 31:

____________