Johnson Inc.'s non-strategic investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments 10,300 Xavier Corp. common shares 1,400 Young Inc. common shares 123,000 Zed Corp. common shares Cost $168,405 72,800 40,900 Fair Value $149,350 69,440 36,500 *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 900 common shares of Young Inc. for $43,200. Johnson Inc. planned to hold these shares for less than one year Mar. 3 Purchased 5,300 common shares of Allen Corp. for $318,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.80 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.80. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10,308 common shares at a total of $91,670. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,300 shares of Xavier Corporation for $164,800. Dec. 31 Allen Corp. announced a net profit of $281,500 for the year. 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 900 common shares of Young Inc. for $43,200. Johnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 5,300 common shares of Allen Corp. for $318,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $2.80 per share. Aug. 14 Sold the remaining Young Inc. shares at $31.30. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10,300 common shares at a total of 591,670. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 10,300 shares of Xavier Corporation for $164,800. Dec. 31 Allen Corp. announced a net profit of $281,500 for the year Required: Journalize the above transactions View transaction list X > 1 Record the sale of equity Investment 2 Record the purchase of 30% Interest for $318,000. 3 Record the collection of dividends from strategic Investment Record the sale of equity Investment Credit 5 Record the purchase of 10,300 shares 6 Record the sale of 10,300 shares 2 Record the purchase of 30% interest for $318,000. 3 Record the collection of dividends from strategic investment. 4 Record the sale of equity investment. Credit 5 6 Record the purchase of 10,300 shares. Record the sale of 10,300 shares. 7 Record the share of profits in investment in associate. Note : = journal entry has been entered Rec entry Clear entry View general journal Analysis Component: Assume the Allen Corp. shares were sold on January 16, 2021, for $367,000. Calculate the investment income or loss and select whether it is unrealized realized