Cullumber, Inc. had the following equity investment portfolio at January 1, 2025. Evers Company 1,030 shares @ $14 each $14,420 Rogers Company 890 shares @ $22 each 19,580 Chance Company 500 shares @ $9 each 4,500 Equity investments @ cost 38,500 Fair value adjustment (7,810) Equity investments @ fair value $30,690 During 2025, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Cullumber, Inc. sold 320 shares of Chance Company for $11 per share. 3. On May 15, Cullumber, Inc. purchased 90 more shares of Evers Company stock at $15 per share. 4. At December 31, 2025, the stocks had the following price per share values: Evers $16, Rogers $21, and Chance $8. During 2026, the following transactions took place. 5. On February 1, Cullumber, 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, 2026, the stocks had the following price per share values: Evers $18 and Rogers $23.