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Following are the data for the following year crear 2 ) Mar, 02: Dwidends per share, declared and paid: Kelly Corp, 51 , and Keefe

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Following are the data for the following year crear 2 ) Mar, 02: Dwidends per share, declared and paid: Kelly Corp, 51 , and Keefe Corp, 5050. Oct. 01:5old bo shares of Keefe Corporabon preferred stock at 525 per share. Dec at: Fair values; Kely cominon, $46 per share Keefe preferred. $26 per share. Year 2 a. Prepiare the entry for Drucker Corvipany to record the purchase of the securties. b. Prepare any adjusting entry needed at December 31, Year 1. Note: If a journat entry iant required for the transaction, select "N/A-Oebit" and "N/A-Credit" as the account names and leave the Dr, and Cr. answers blank trerok Cindicate the dems and amounts that should be reported on the Vear 1 income statement of Dnucker and its year end balance sheet, Assume that the investments are cuss fied as current: Note Use a negatme sign to indicase a loss. c. Indicate the items and amounts that should-be reported on the Year 1 incom Note: Use a negative sign to indicate a loss. portobo en Decrember 31, Year 2 Note Use a requgive sen to indicate a bir

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