Flounder, Inc. had the following equity investment portfolio at January 1, 2017 970 shares @ $15 each 860 shares @ $20 each 530 shares @ $9 each $14,550 17,200 4,770 Evers Company Rogers Company Chance Company Equity investments cost Fair value adjustment Equity investments fair value 36,520 (7,280) $29,240 During 2017, the following transactions took place. 1. 2. 3. 4. On March 1, Rogers Company paid a $2 per share dividend. On April 30, Flounder, Inc. sold 320 shares of Chance Company for $11 per share. On May 15, Flounder, Inc. purchased 90 more shares of Evers Company stock at $16 per share. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance $8. During 2018, the following transactions took place. 5. On February 1, Flounder, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21. No. Account Titles and Explanation Debit Credit (1) Cash 17200 T Dividend Revenue 1720 (2) Cash 3520 Gain on Sale of Investments 640 Equity Investments 2880 (3) Equity Investments 1440 TCash 1440 (4) Fair Value Adjustment 9960 x............. .......... ...... Unrealized Holding Gain or Loss -Income IT 9960 (5) Tcash 1680 Loss on Sale of Investments Equity Investments 1890 (4) Fair Value Adjustment 9960 Unrealized Holding Gain or Loss -Income 9960 (5) Cash 1680 Loss on Sale of Investments 210 Equity Investments 1890 (6) Cash 1720 Wash Dividend Revenue 1720 (7) Dividend Receivable 3180 Dividend Revenue 3180 (8) Fair Value Adjustment 3090 Unrealized Holding Gain or Loss -Income 3090 Your answer is partially correct. Try again. Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2017 and 2018. Flounder, Inc. Balance Sheet (Partial) December 31, 2017 December 31, 2018 T Current Assets Dividend Receivable - 3100 Accumulated Other Comprehensive Income: Gain on Sale of Investments 37760 38960