Johnson Inc.'s non-strategic investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments* 10,700 Xavier Corp. common shares 1,600 Young Inc. common shares 127,000 Zed Corp. common shares Cost $174,945 83,200 42,100 Fair Value $155, 150 79,360 37,700 *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 1,100 common shares of Young Inc. for $52,800. Johnson Inc. planned to hold these shares for less than one year- Mar. 3 Purchased 5,700 common shares of Allen Corp. for $342,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $3.20 per share. Aug. 14 Sold the remaining Young Inc. shares at $32.20. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10,700 common shares at a total of $95,230. Johnson Inc. will s these shares in six to nine months. Dec. 30 Sold 10,700 shares of Xavier Corporation for $171,200. Dec. 31 Allen Corp. announced a net profit of $283,500 for the year. Required: Journalize the above transactions. View transaction list Journal entry worksheet 4 5 6 1 3 2 Analysis Component: Assume the Allen Corp. shares were sold on January 16, 2021, for $371,000. Calculate the investment income or loss and select whether it is unrealized/realized? Loss realized