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Novak, Inc. had the following equity investment portfolio at January 1, 2025. Evers Company 1.010 shares @ $16 each $16.160 Rogers Company 870 shares @

image text in transcribedimage text in transcribed Novak, Inc. had the following equity investment portfolio at January 1, 2025. Evers Company 1.010 shares @ $16 each $16.160 Rogers Company 870 shares @ $22 each 19.140 Chance Company 510 shares @ $9 each 4,590 Equity investments@cost 39,890 Fair value adjustment (7,500) Equity investments @ fair value $32,390 During 2025, the following transactions took place. L On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Novak, Inc. sold 320 shares of Chance Company for $11 per share. 3. On May 15, Novak, Inc. purchased 90 more shares of Evers Company stock at $17 per share. 4. At December 31, 2025, the stocks had the following price per share values: Evers $18, Rogers $21, and Chance $8. During 2026, the following transactions took place. 5. On February 1. Novak, Inc. sold the remaining Chance shares for $8 per share, 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2026, the stocks had the following price per share values: Evers $20 and Rogers $23. Date Account Titles and Explanation

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