HomeworK Geved Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments" 10,900 Xavier Corp. common shares 1,700 Young Inc. common shares Cost Fair Value $178,215 88,400 42,700 $158,050 129,000 Zed Corp. common shares *The fair value adjustments were recorded on December 31, 2022. 84,320 38,300 Johnson had no other debt and equity investments at December 31, 2022, other than those shown above. During 2023, Johnson engaged in the following transactions: 2023 Jan.17 Sold 1,200 common shares of Young Inc. for $57,600. Johnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 5,900 common shares of Allen Corp. for $354,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $3.40 per share. Aug.14 Sold the remaining Young Inc. shares at $32.40. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10,900 common shares at a total of $97,010. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,900 shares of Xavier Corporation for $174,400. Dec. 31 Allen Corp. announced a net profit of $284,500 for the year. Required: Journalize the above transactions.