During the year, Davis Company engaged in the investment transactions described below.

February $10$

Purchased $440$ shares of ABC Company common stock for $$25$ per share plus a brokerage commission of $$50.$ Davis Company does not have significant influence over ABC.

April $1$

Bought $24,000$ of the $100,000$ outstanding shares of Royal Company for $$240,000.$ Goodwill of $$74,000$ was included in the price.

June $19$

Received a $$1\mathrm{.}10$ per share dividend on ABC Company stock.

June $30$

Royal Company reported second$-$quarter profits of $$14,000.$

December $31$

ABC Company shares are selling for $$30$ per share.

Required:

Prepare the appropriate journal entries to record the transactions for the year, including year$-$end adjustments