Headland, Inc had the following equity investment portfolio at January 1, 2020. 1.010 shares @ $ 16 each $ 16,160 870 shares @ $ 22 each 19.140 510 shares @ $9 each 4.590 Evers Company Rogers Company Chance Company Equity investments @ cost Fair value adjustment Equity investments @fair value 39,890 (7.500) $ 32,390 During 2020, the following transactions took place. 1. 2. On March 1, Rogers Company paid a $2 per share dividend. On April 30, Headland, Inc. sold 320 shares of Chance Company for $ 11 per share. On May 15, Headland, Inc. purchased 90 more shares of Evers Company stock at $ 17 per share. At December 31, 2020, the stocks had the following price per share values: Evers $ 18, Rogers $ 21, and Chance $ 8. 3. 4. During 2021, the following transactions took place. 5. 6. On February 1. Headland, Inc. sold the remaining Chance shares for $8 per share. On March 1, Rogers Company paid a $2 per share dividend. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. At December 31, 2021, the stocks had the following price per share values: Evers $ 20 and Rogers $ 23. 7. 8. Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021. Headland, Inc. Balance Sheet (Partial) December 31, 2020 December 31, 2021 Investments Fair Value Adjustment 38540 $ Investments Il Dividend Receivable 28910