Entries for equity investment of between 20%-50% ownership Glacier Products Inc. is a wholesaler of rock climbing gear. The company began operations on January 1, 2013. The following transactions relate to securities acquired by Glacier Products Inc., which has a fiscal year ending on December 31, 2013: 2013 Jan. 25 Purchased 80,000 shares of Helsi Co. common stock for $700,000. There are 200,000 shares of Helsi Co stock outstanding, Dec 31 Received $21,000 of cash dividends on Hell Co stock. Helsi Co. reported net income or $86,000 in 2013. Required: 1. Journalize the entries to record the preceding transactions. If an amount box does not require an entry, leave it blank. Date Description Debit Credit 2013 Jan, 25 Dec. 31.Dividends Dec 31-Income 2. Should Glacier Product Inc.'s investment in Helsi Co be reported at fair value on its financial statements for the year ending December 31, 2013 Check My Work