May 15 Mar. 3 Purchased 3,000 shares at $11 per share of Rim Software common stock as a long-term equity investment, representing 5% ownership, no significant influence. Received a cash dividend of $0.85 per share on the Rim investment. Dec. 15 Received a cash dividend of $55,000 from Ester investment. Dec. 31 Received Ester's annual report showing $100,000 of net income. Dec. 31 Received Rim's annual report showing $800,000 of net income for the year. Dec. 31 Ester's stock fair value at year-end was $775,000. Dec. 31 Rim's common stock fair value at year-end was $12 per share. The beginning balance sheet of Party Source Co. included an $800,000 investment in Ester stock (30% ownership, Party has significant influence over Ester). During the year, Party Source completed the following investment transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions for the year of Party Source. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Mar. 3: Purchased 3,000 shares at $11 per share of Rim Software common stock as a long-term equity investment, representing 5% ownership, no significant influence. Date Mar. 3 Accounts and Explanation May 15: Received a cash dividend of $0.85 per share on the Rim investment. Date May 15 Accounts and Explanation Debit Credit Debit Credit Dec. 15: Received a cash dividend of $55,000 from Ester investment. Date Dec. 15 Accounts and Explanation Dec. 31: Received Ester's annual report showing $100,000 of net income. Date Dec. 31 Accounts and Explanation Debit Credit Debit Credit Dec. 31: Received Rim's annual report showing $800,000 of net income for the year. Date Dec. 31 Accounts and Explanation Dec. 31: Ester's stock fair value at year-end was $775,000. Date Dec. 31 Debit Credit Accounts and Explanation Debit Credit Dec. 31: Rim's common stock fair value at year-end was $12 per share. Date Dec. 31 Accounts and Explanation Debit Credit Requirement 2. Post transactions to T-accounts to determine the December 31, 2024, balances related to the investment and investment income accounts. (Select the missing investment account.) Equity Investments-Ester Equity Investments Fair Value Adjustment-Equity Investments Revenue from Investments Dividend Revenue Requirement 3. Prepare Party Source's partial balance sheet at December 31, 2024, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty; do not select a label or enter a zero.) Party Source, Co. Balance Sheet (Partial) December 31, 2024 Assets Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 4. Where is the unrealized holding gain or loss associated with the Rim stock reported? The unrealized holding gain or loss associated with the Lili stock is included on the income statement in the accumulated other comprehensive income section on the balance sheet. balance sheet as a contra account to the trading debt investment account. revenues section of the income statement. ck reported? other income and (expenses) section on the income statement. Tilly yum of 100 statement in