Ellis Transport Company acquired 1.2 million shares of stock in L&K Corporation at $44 per share. They are reported by Ellis at "fair value through net income." Ellis sold 200,000 shares at $46, received a 10% stock dividend, and then later in the year sold another 100,000 shares at $43. Hint: There is no entry for the stock dividend, but a new Investment per share must be calculated for use later when the shares are sold. Required: Prepare journal entries to record these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Journal entry worksheet 1 2 3 Record acquisition of shares in L & K Corporation. Note: Enter debits before credits. Event 1 General Journal Debit Credit Record entry Clear entry < Prev 10 of 10 View general journal Next > Journal entry worksheet < 2 3 Record sale of 200,000 shares. Note: Enter debits before credits. Event 2 General Journal Debit Credit Record entry Clear entry Journal entry worksheet < 1 2 3 Record sale of 100,000 shares. Note: Enter debits before credits.. Event 3 General Journal Debit Credit Record entry Clear entry < Prev 10 of 10 View general journal Next