Ayayai, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 980 shares @ $16 each $15,680

Rogers Company 880 shares @ $21 each 18,480

Chance Company 490 shares @ $9 each 4,410

Equity investments @ cost 38,570 Fair value adjustment (7,780 )

Equity investments @ fair value $30,790

During 2020, the following transactions took place.

1. On March 1, Rogers Company paid a $2 per share dividend.

2. On April 30, Ayayai, Inc. sold 290 shares of Chance Company for $10 per share.

3. On May 15, Ayayai, Inc. purchased 110 more shares of Evers Company stock at $16 per share.

4. At December 31, 2020, the stocks had the following price per share values: Evers $17, Rogers $20, and Chance $8.

During 2021, the following transactions took place.

5. On February 1, Ayayai, Inc. sold the remaining Chance shares for $8 per share.

6. On March 1, Rogers Company paid a $2 per share dividend.

7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month.

8. At December 31, 2021, the stocks had the following price per share values: Evers $19 and Rogers $22.

Prepare journal entries for each of the above transactions.

Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021.