English Take me to the text On March 7, 2000, Simplex Holding, a private company. purchased 13% of the 2,390,000 outstanding common shares issued by Kansas Holding at a price of $28.53 per share. This investment occurred as part of a business alliance agreement between the two companies. Simplex Holding is planning to hold on to the common shares of Kansas Holding for at least 10 years if not longer During 2020, the following activities occurred in regards to this investment 1) On June 27, 2020, Simplex Holding received a cash dividend from Kansas Holding for $2.09 per share. 2) On December 31, 2020, the year-end date of Simplex Holding, Kansas Holding shares of common shares were traded at $3153 per share. Required Prepare journal entries to record the acquisition of Kansas Holding's common shares, receipt of cash dividends and year-end adjustments related to Kansas Holding's investment in Simplex Holding's books Do not enter dollar signs or commas in the input boxes, Bound all answers to the nearest whole number Date Account Title and Explanation Debit Credit Mar 7 Long-Term Investment - Shares Cash To record acquisition of common shares Jun 27 Cash . Dividend Revenue To record dividend received Dec 31 Cash X Unrealized Gain on Fair Value Adjustment . To record fair value adjustment to share Check Type here to search O RE e 9 hp