Johnson Inc.'s non-strategic investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments 11,500 Xavier Corp. common shares 2,000 Young Inc. common shares 135,000 Zed Corp. common shares Cost $188,025 104,000 44,500 Face Value $166,750 99,200 40,100 *The fair value adjustments were recorded on December 31, 2019, Johnson had no other debt and equity investments at December 31, 2019, other than those shown above. During 2020, Johnson engaged in the following transactions, 2020 Jan. 17 Sold 1,500 common shares of Young Inc. for $72,000. Johnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 6,500 connon shares of Allen Corp. for $390,000. The shares represent 30% ownership in Allon Corp. June 7 Received dividends from Allen Corp. at the rate of $4.00 per share Aug. 14 Sold the remaining Young Inc. shares at $33.00. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 11,580 common shares at a total of $102,350. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 11,500 shares of Xavier Corporation for $184,000. Dec. 31 Allen Corp. announced a net profit of $287,500 for the year Required: Journalize the above transactions. View transaction list Journal entry worksheet