Aquisitive Inc. has provided you with the following list of transactions and economic events that involved its investment portfolio in 2011. i. 12th January 2011. Aquisitive purchased 28.000 common shares in Knoch limited for $32 per share. The investment represents 25% interest in Knoch and gives Aquisitive significant influence. ii. 14th Feb 2011. Aquisitive purchased 12,000 common shares in Inket limited for $25 pr share. Aquisitive classifies these shares as trading investments. iii. 30 June 2011. Aquisitive received a cheque from Inket limited representing $1.20 dividends per share declared and paid by Inket limited. iv. 31st December 2011. Knoch reported a net income of $180,000 and declared a dividend of $40,000. The price of it shares at the close of trading on 31st December 2011 was $40. v. At the close of trading on 31st December 2011 shares of Hydrolic Limited were priced at $23. Aquisitive's 2000 shares in Hydrolic have a book value of $15 and are classificd as available for ale investments. vi. At the close of trading on 31st December 2011, shares of Jordin Limited were priced at $13 per share. Aquisitive's 4,300 shares in Jordin Limited have a book value of $20 per share. Aquisitive plans to continue holding these for the foreseeable future, vii. At the close of trading on 31st December 2011, shares of Inket limited were priced at $23 per share. Required a) For each of the items above prepare any necessary journal entries required. Assume Aquisitive Inc.'s year end is December 31 2011 (12 marks). b) What is the Balance Sheet value for Aquisitive's investments as at 31st December 2011 (5 marks). c) What is the impact of Aquisitive's investment activities on its reported income for the year