EXERCISE 3 (25 points) During the year 2021 Azimuth Corporation engaged in the following transaction with marketable securities: May 14: Azimuth purchases as a short-term investment 1,000 shares of ADIDAS. Azimuth paid 197.15 per share, plus a brokerage commission of 240. August 27: Azimuth sells 100 shares of its ADIDAS stock for 197.81 per share, less a 102 brokerage commission. October 10: Azimuth receives a 3.40 per share dividend on its ADIDAS shares. December 31: ADIDAS stock has a current market value of 198.12 per share. Instructions: 3.1 Record the above four transactions in general journal (5 points per recording each transaction). 3.2. Define marketable securities. What characteristics of these securities justify classifying them as financial assets? (5 points)