Carla Corporation purchased $440$ shares of Sherman Inc. common stock for $$12,900($Carla does not have significant

influence$).$ During the year, Sherman paid a cash dividend of $$3\mathrm{.}25$ per share. At year$-$end, Sherman stock was selling for

$$34\mathrm{.}50$ per share.

Prepare Carla' 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.$)($List all debit entries before credit entries. Credit

account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry"

for the account titles and enter O for the amounts.$)$