Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, 20Y6. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31, 2016: Jan 10 Dec. 31 Required: Purchased an influential interest in Imboden Inc. for $760,000 by purchasing 152,000 shares directly from the estate of the founder of Imboden Inc. There are 400,000 shares of Imboden Inc. stock outstanding Received $57,400 of cash dividends on Imboden Inc. stock. Imboden Inc. reported net income of $540,000 in 2016. Forte Inc. uses the equity method of accounting for its investment in Imboden Inc. 1. Journalize the entries to record these transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journale do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered 2. Should Forte Inc.'s Investment in Imboden Inc. be reported at fair value on its financial statements for the year ending December 31, 2018?