More info Jan. 14 Purchased 500 shares of Naradon stock, paying $56 per share. The investment represents 35% ownership in Naradon's voting stock and Strategic has significant influence over Naradon. Strategic intends to hold the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.52 per share on the Naradon stock. Dec. 31 Naradon's current market value of $51 per share. Dec. 31 Naradon reported net income of $120,000 for the year ended 2024 Strategic Investments completed the following transactions during 2024: (Click the icon to view the transactions.) Requirements 1. Journalize Strategic's transactions. Explanations are not required. 2. Classify and prepare partial financial statements for Strategic's 35% Naradon investment for the year ended December 31, 2024. entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14: Purchased 500 shares of Naradon stock, paying $56 per share. The investment represents 35% ownership in Naradon's voting stock and Strategic has significant influence over Naradon. Strategic intends to hold the investment for the indefinite future. Date Accounts Debit Credit Jan. 14 Equity Investments-Naradon 28,000 Cash 28,000 Aug. 22: Received a cash dividend of $0.52 per share on the Naradon stock. Date Accounts Debit Credit Aug. 22 Cash 260 Equity Investments-Naradon 260 Dec. 31: Naradon's current market value is $51 per share. Date Accounts Debit Credit Dec. 31 No entry required Dec. 31: Naradon reported net income of $120,000 for the year ended 2024. Date Accounts Debit Credit Dec. 31 Equity Investments-Naradon 42,000 Revenue from Investments 42,000 Requirement 2. Classify and prepare partial financial statements for Strategic's 35% Naradon investment for the year ended December 31, 2024. Begin by showing the account and amount of any assets that would appear on Strategic's balance sheet as it relates to the Naradon investment at December 31, 2024. (If a box is not used in the financial statement, leave the box empty; do not select a label or enter a zero.) Strategic Investments Balance Sheet (Partial) December 31, 2024 Current Assets: $ 69,740 Long-term Assets Equity Investments-Naradon (equity method) Stockholders' Equity Accumulated Other Comprehensive Income: Complete the partial income statement for the year ended December 31, 2024 as it relates to Strategic's Naradon investment. (Use a minus sign or parentheses to enter a loss. If a box is not used in the financial statement, leave the box empty, do not select a label or enter a zero.) Strategic Investments Income Statement (Partial) For the Year Ended December 31, 2024 Other Income and (Expenses)