Debit Credit - X More Info Mar. 3 May 15 Dec. 15 Dec. 31 Dec. 31 Purchased 4,000 shares at $11 per share of Lili Software common stock as a long- term equity investment, representing 7% ownership, no significant influence. Received a cash dividend of $0.61 per share on the Lili investment. Received a cash dividend of $70,000 from Evan investment. Received Evan's annual report showing $300,000 of net income. Received Lili's annual report showing $120,000 of net income for the year. Evan's stock fair value at year-end was $390,000 Lili's common stock fair value at year-end was $12 per share. Dec. 31 Dec. 31 Print Done ue to the next question Debit Credit Requirements 1. Journalize the transactions for the year of Waterfall Source. 2. Post transactions to T-accounts to determine the December 31, 2018, balances related to the investment and investment income accounts. 3. Prepare Waterfall Source's partial balance sheet at December 31, 2018, from your answers in Requirement 2. 4. Where is the unrealized holding gain or loss associated with the Lili stock reported? Print Done Requirement 1. Journalize the transactions for the year of Waterfall Source. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation col leave the remaining cells blank.) Mar. 3: Purchased 4,000 shares at $11 per share of Lili Software common stock as a long-term equity investment, representing 7% ownership, no significant influence Date Accounts and Explanation Debit Credit Mar. 3 May 15: Received a cash dividend of $0.61 per share on the Lili investment. Date Accounts and Explanation Debit Credit May 15 Dec. 15: Received a cash dividend of $70,000 from Evan investment. Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. (Click the icon to view the transactions.) Read the requirements Dec. 15: Received a cash dividend of $70,000 from Evan investment. Date Accounts and Explanation Debit Credit Dec. 15 Dec. 31: Received Evan's annual report showing $300,000 of net income Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Received Lili's annual report showing $120,000 of net income for the year. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Received Lili's annual report showing $120,000 of net income for the year. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Evan's stock fair value at year-end was $390,000. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Lili's common stock fair value at year-end was $12 per share. Date Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any number in the input fields and then continue to the next question Read the requirements Dec. 31: Lili's common stock fair value at year-end was $12 per share. Date Accounts and Explanation Debit Credit Dec. 31 Requirement 2. Post transactions to T-accounts to determine the December 31, 2018, balances related to the investment and investment income accounts. (Select the missing investment account.) Equity InvestmentsEvan Revenue from Investments Equity Investments Dividend Revenue Fair Value Adjustment-Equity Investments Choose from any list or enter any number in the input fields and then continue to the next question Read the requirements Requirement 2. Post transactions to T-accounts to determine the December 31, 2018, balances related to the investment and investment income accounts. (Select the missing investment account.) Equity InvestmentsEvan Revenue from Investments Equity Investments Dividend Revenue Fair Value Adjustment-Equity Investments Requirement 3. Prepare Waterfall Source's partial balance sheet at December 31, 2018, from your answers in Requirement 2. (lf a box is not used in the partial balance sheet, leave the box empty, do not select a label or enter a zero.) Waterfall Source, Co. Balance Sheet (Partial) December 31, 2018 Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 3. Prepare Waterfall Source's partial balance sheet at December 31, 2018, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty; Waterfall Source, Co. Balance Sheet (Partial) December 31, 2018 Assets Current Assets Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 4. Where is the unrealized holding gain or loss associated with the Lili stock reported? The unrealized holding gain or loss associated with the Lili stock is included on the income statement in the Choose from any list or enter any number in the input fields and then continue to the next