Gator Shoes, Inc., manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock March 1 Purchases 3,000 shares of Power Drive Corporation's common stock for $62 per share. July 1 Receives a cash dividend of $1.25 per share. October 1 Sells 750 shares of Power Drive Corporation's common stock for $70 per share. December 31 The fair value of Power Drive Corporation's common stock is S75 per share. Required: 1. Record each of these transactions, including an adjustment on December 31 for the investment's fair value, if appropriate. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)