BE17.5 (LO 2)Fairbanks Corporation purchased 400 shares of Sherman Inc. common stock for $13,20oo (Fairbanks does not have significant influence). During the year, Sherman paid a cash dividend of $3.25 per share. At year-end, Sherman stock was selling for $34-50 per share. Prepare Fairbanks' journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment (Assume a zero balance in the Fair Value Adjustment account.) BE17.6 (LO 2) Use the information from BE17.5 but assume the stock is nonmarketable. Prepare Fairbanks' journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment, if any