Godfrey Company had the following transactions pertaining to stock investments. Feb.1 Purchased 500 shares of Dixon common stock (2%) for $5, 200 cash. July. 1 Received cash dividends of $1 per share on Dixon common stock. Sept. 1 Sold 300 shares of Dixon common stock for $4, 300. Dec. 1 Received cash dividends of $1 per share on Dixon common stock. Instructions (a). Journalize the transactions. (b). Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement