Entries for equity investment of between 20%550% ownership Glacier Products inc. is a wholesaler of rock climbing gear. The company began operations on January 1, 20r3. The following transactions relate to sacurities acquired by Glacier Products inc, which has a fiscal year ending on December 31,20 , 3 : 2ora Jan. 25 Purchased 75,000 shares of Heisi Co. commen stock for 5800,000 , There are 250,000 shares of Helai Co. stock outstanding. Dec, 31 Heceived $35,000 of cosh dividends on Helsi Co. stock. Helsi Co. reported net income of s170,000 in 20rz. Required: 1. Journalize the entries to record the preceding transactions. If an ambunt box does not require an entry, leave it blank. Dec, 31 Recelved $38,000 of cash dividends on Helsi Co. stock. Helsi Co. reported net income of $170,000 in 20r3. Required: 1. Josirnailze the entries to record the preceding transactions. If an amount box does not require an entry, leave it bianik. 2. Should Giscier Product Inc.'s investment in Helsi Co, be reported at fair value on its financial statements for the year ending December \$1. 20r3