I need help finishing this problem! :(

Selk Steel Co., which began operations on January 4, 2015, had the following subsequent transactions and events in its long-term investments.

2015

Jan.	5	Selk purchased 50,000 shares (25% of total) of Kildaire's common stock for $1,600,000.
Oct.	23	Kildaire declared and paid a cash dividend of $4.50 per share.
Dec.	31	Kildaire's net income for 2015 is $1,294,000, and the fair value of its stock at December 31 is $33.50 per share.

2016

Oct.	15	Kildaire declared and paid a cash dividend of $3.40 per share.
Dec.	31	Kildaire's net income for 2016 is $1,606,000, and the fair value of its stock at December 31 is $35.00 per share

2017
Jan.	2	Selk sold all of its investment in Kildaire for $2,041,000 cash.

Assume that although Selk owns 25% of Kildaires outstanding stock, circumstances indicate that it does not have a significant influence over the investee and that it is classified as an available-for-sale security investment.

Required:

1.

Prepare journal entries to record the preceding transactions and events for Selk. Also prepare an entry dated January 2, 2017, to remove any balance related to the fair value adjustment. (If no entry is required select No journal entry required in the first entry field)

Jan 05, 2015	Long-term investmentsAFS (Kildaire)	1,600,000
	Cash		1,600,000
Oct 23, 2015	Cash	225,000
	Dividend revenue		225,000
Dec 31, 2015	Fair value adjustmentAFS (LT)
	Unrealized gainEquity
Oct 15, 2016	Cash	170,000
	Dividend revenue		170,000
Dec 31, 2016	Fair value adjustmentAFS (LT)
	Unrealized gainEquity
Jan 02, 2017	Cash
	Gain on sale of Investments
	Long-term investmentsAFS (Kildaire)
Jan 02, 2017	Unrealized gainEquity
	Fair value adjustmentAFS (LT)

2.	Compute the cost per share of Selks investment in Kildaire common stock as reflected in the investment account on January 1, 2017.

3.	Compute the net increase or decrease in Selks equity from January 5, 2015, through January 2, 2017, resulting from its investment in Kildaire.

Jan.
Oct.
Dec.