Indigo, Inc. had the following equity investment portfolio at January 1, 2020. 1,030 shares @ $14 each 890 shares @ $22 each 500 shares @ $9 each Evers Company Rogers Company Chance Company Equity investments @ cost Fair value adjustment Equity investments @fair value $14,420 19,580 4,500 38,500 (7.810) $30,690 During 2020, the following transactions took place. 1. 2. On March 1, Rogers Company paid a $2 per share dividend, On April 30, Indigo, Inc. sold 320 shares of Chance Company for $11 per share. On May 15, Indigo, Inc. purchased 90 more shares of Evers Company stock at $15 per share. At December 31, 2020, the stocks had the following price per share values: Evers $16, Rogers $21, and Chance $8. 3. 4. During 2021, the following transactions took place 5. On February 1, Indigo, Inc. sold the remaining Chance shares for $6 per share. On March 1. Rogers Company paid a $2 per share dividend. 7. 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 $18 and Rogers $23. 6. 8. Prepare journal entries for each of the above transactions. (Credit account titles are automatically indented when amount is entered Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts) Credit Debit No. Account Titles and Explanation (1) Cash 1780 1780 Dividend Recevable (2) Gain on Sate of investments Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit (1) Cash 1780 Dividend Receivable 1780 (2) Cash Gain on Sale of Investments Equity Investments (3) Equity Investments Cash (4 ) Fair Value Adjustment Unrealized Holding Gain or Loss - Equity (5) Cash Loss on Sale of Investments Equity Investments (6 ) Dividend Receivable (7 Dividend Receivable Dividend Revenue Fair Value Adjustment Unrealised Holding Gain or Loss Equity al Media Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021. Indigo, Inc. Balance Sheet (Partial) December 31, 2020 December 31, 2021 Current Assets $ $ e Textbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer Save for later Last saved 23 hours ago