Modular Company (Modular) purchased investment securities during 2020. These securities were classified as available for sale securities. Information about them follows:

Cost Market

12/31/20 12/31/21

Robot Mop Co. $200,000 240,000 180,000

Levitating Duster Co. $100,000 190,000 110,000

$300,000 430,000 290,000

Modular purchased stock of Trash Evaporator Co. on 3/1/21 for $250,000 (also an available for sale security). On 12/1/21 Modular Company sold the Trash Evaporator Co. stock for $280,000.

Modular received dividends of $10,000 from Robot Mop Co. on 6/30/19 and Robot Mop Co. reported income of $100,000 for 2021. Levitating Duster Co. paid no dividends during 2001 and reported a loss of $20,000.

Prepare all journal entries required during 2021 for Modular Co.

Provide the income statement and balance sheet disclosure required on the 12/31/21 financial statements of Modular Company.