Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, 2016. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31: Record these transactions on page 10: 2016 Jan. 22 Purchased 23,600 shares of Sankal Inc. as an available-for-sale security at $18 per share, including the brokerage commission. Mar. 8 Received a cash dividend of $0.21 per share on Sankal Inc. stock. Sep. 8 A cash dividend of $0.24 per share was received on the Sankal stock. Oct. 17 Sold 4,700 shares of Sankal Inc. stock at $15 per share, less a brokerage commission of $60. Dec. 31 Sankal Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $26 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment. Record these transactions on page 11: 2017 Jan. 10 Purchased an influential interest in Imboden Inc. for $1,287,000 by purchasing 165,000 shares directly from the estate of the founder of Imboden Inc. There are 500,000 shares of Imboden Inc. stock outstanding. Mar. 10 Received a cash dividend of $0.29 per share on Sankal Inc. stock. Sep. 12 Received a cash dividend of $0.24 per share plus an extra dividend of $0.06 per share on Sankal Inc. stock. Dec. 31 Received $56,400 of cash dividends on Imboden Inc. stock. Imboden Inc. reported net income of $489,800 in 2017. Forte Inc. uses the equity method of accounting for its investment in Imboden Inc. Dec. 31 Sankal Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $21 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment for the decrease in fair value from $26 to $21 per share.