E15-16 Classifying and accounting for equity investments Boston Today Publishers completed the following investment transactions during 2018 and 2019: 2018 Dec. 6 Purchased 2,500 shares of Loveable stock at a price of $24.00 per share intending to sell the investment next month. Boston did not have significant influence over Loveable. Received a cash dividend of $1.50 per share on the Loveable stock. Adjusted the investment to its market value of $11.00 per share. 23 31 2019 Jan. 27 Sold the Loveable stock for $18.20 per share. Requirements 1. Journalize Boston Today's investment transactions. Explanations are not required 2. On December 31, 2018, how would the Loveable stock be classified and at what value would it be reported on the balance sheet