Investments in Equity Securities Williams Corporation acquired the following equity securities during the year: April 9: 200 shares of Southwestern Company common stock $14,600 June 30: 500 shares of Montgomery Products common stock 14,500 Williams's investment in both of these companies is passive. On August 30, Williams received a dividend of $1.20 per stare from the Southwestern Company, Williams also received a dividend of $1.80 per share from Montgomery Products on October 10. At December 31, the Southwestern stock has a market value of $75 per share, and the Montgomery stock has a market value of $25 per share. Required: 1. Prepare entries for Williams Jourtial to record these two investments and the receipt of the dividends. If an amount box does not require an entry leave it blank Apt a June 30 Aug. 30 II III Oct 10 Et De 2. Calculate the market value of Williams's short-term investment portfolio at December 31. Williams Corporation Market Value of Short term Investment Portfolio December 31 Market value of portfolio on December 31: 200 Southwestern shares SOD Montgomery shares Portfoio market value 3. Prepare the necessary adjusting entry at December 31. If an amount box does not require an entry, leave it blank. Dec. 31 38 4. How would these securities be disclosed on the December 31 balance sheet? Assume that Williams expects to sell the investment in the next year. Williams Corporation Partial Balance Sheet December 31 Current assets Investments