Analysis Component:

Assume the Allen Corp. shares were sold on January $16,2024,$ for $$371,000.$ Calculate the investment income or loss and select

whether it is unrealized$/$realized$?$Johnson Inc.$\text{'}$s non$-$strategic investment portfolio at December $31,2022,$ consisted of the following:

$*$The fair value adjustments were recorded on December $31,2022.$

Johnson had no other debt and equity investments at December $31,2022,$ other than those shown above. During $2023,$ Johnson

engaged in the following transactions:

$2023$

Jan. $17$ Sold $1,100$ common shares of Young Inc. for $$52,800.$ Johnson Inc. planned to hold these shares for less than one

year.

Mar. $3$ Purchased $5,700$ common shares of Allen Corp. for $$342,000.$ The shares represent a $30\%$ ownership in Allen Corp.

June $7$ Received dividends from Allen Corp. at the rate of $$3\mathrm{.}20$ per share.

Aug. $14$ Sold the remaining Young Inc. shares at $$32\mathrm{.}20.$

Nov. $28$ Purchased a $5\%$ ownership in Davis Corp. by acquiring $10,700$ common shares at a total of $$95,230.$ Johnson Inc.

will sell these shares in six to nine months.

Dec. $30$ Sold $10,700$ shares of Xavier Corporation for $$171,200.$

Dec. $31$ Allen Corp. announced a net profit of $$283,500$ for the year.

Required:

Journalize the above transactions.