Johnson Inc.'s non-strategic investment portfolio at December 31, 2019, consisted of the following: Debt and Equity Investments* 10,900 Xavier Corp. common shares 1,700 Young Inc. common shares 129,880 Zed Corp. common shares Cost $178,215 88,400 42,700 Fair Value $158,050 84,3 38, 300 02-10 *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 1,208 common shares of Young Inc. for $57,600. Johnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 5,908 common shares of Allen Corp. for $354,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $3.40 per share. Aug. 14 Sold the remaining Young Inc. shares at $32.40. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10,900 common shares at a total of $97,010. Johnson Inc. will sell these shares in six to nine months. noc 20 cold na naa chanac of varion connanation fondaza Help Save & Exit Su 2020 Jan. 17 Sold 1,200 common shares of Young Inc. for $57,600. Johnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 5,900 common shares of Allen Corp. for $354,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $3.40 per share. Aug. 14 sold the remaining Young Inc. shares at $32.40. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 10,900 common shares at a total of $97,010. Johnson Inc. will sell these shares in six to nine months. Dec.30 Sold 10,900 shares of Xavier Corporation for $174,400. Dec.31 Allen Corp. announced a net profit of $284,500 for the year. Required: Journalize the above transactions View transaction list Record the sale of equity investme 1 Record the sale of equity investment. 2 Record the purchase of 30% interest for $354,000. 3 Record the collection of dividends from strategic investment. 4 Record the sale of equity investment. Credit 5 Record the purchase of 10,900 shares. 6 Record the sale of 10,900 shares. 7 Record the share of profits in investment in associate. Note : = journal entry has been entered Record entry Clear entry View general journal Analysis Component: Assume the Allen Corp. shares were sold on January 16, 2021, for $373,000. Calculate the investment income or loss and select whether it is unrealized/realized