Exercise 16-4 Hulse Company had the following transactions pertaining to stock investments. Feb. 1 July 1 Sept. 1 Dec. 1 Purchased 640 shares of Wade common stock (296) for $7,680 cash. Received cash dividends of $2 per share on Wade common stock. Sold 320 shares of Wade common stock for $4,320. Received cash dividends of $1 per share on Wade common stock. Journalize the transactions. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement. Dividend revenue and the gain on sale of stock investments are reported under in the income statement