Gator Shoes, Incorporated, manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock during 2024.

March 1	Purchases 2,400 shares (10%) of Power Drive Corporations common stock for $56 per share.
July 1	Receives a cash dividend of $1.70 per share.
December 31	The fair value of Power Drive Corporations common stock is $69 per share.

On February 1, 2025 (the following year), Gator Shoes sells 600 shares of Power Drive Corporations common stock for $64 per share.

Required:

1. Record each of these transactions in 2024, including an adjusting entry on December 31 for the investments fair value, if appropriate.
2. Record the sale on February 1, 2025.

Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.