On 1 November 20X8. Porter Company acquired the following FVIPL investments Minto Corp. -2,000 common shares at $15 cash per share Pugwash Corp.700 preferred shares at $25 cash per share The annual reporting period ends 31 December. Quoted fair values on 31 December 2978 were as follows Minto Corporation common, $12 Pugwash Corporation preferred, $27 - The following information relates to 20X9: 2 March 1 October Received cash dividends per share as follows: Minto Corporation, $2.10; and Pugwash Corporation, $1.25. Sold 200 shares of Pugwash Corporation preferred at 929 per share, Fair values were as follows: Minto common, 123, and Pugwash preferred, $26. 31 December Required: 1. Prepare the entry for Porter Company to record the purchase of the securities, (If no entry is required for a transaction event, select "No journal entry required" in the first account field.) 2 Prepare the adjusting entries needed at the end of 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 31 Dec. 20X8 Investment in Pugwash Co. shares Investment revenue: Holding loss: Pugwash Co. shares 1,400 4,600 2 31 Dec. 20X8 Investment in Minto Co. shares Investment revenue: Holding loss: Minto Co. shares 3 Show the amount that would be reported in 20X8 earnings and the asset amounts on the statement of financial position Camings, 20x8 Nel gain on I VIPI Investments Statement of financial position, 31 December 20x8 TVIPL Investments, at fair value 24,000 $ 4. Prepare the all entries required in 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 2 Mar. 20X9 Cash 5,075 Investment revenue: Dividends 5,075 1 Oct. 2079 Cash 5,800 Investment in Pugwash Co. shares Investment revenue: Holding gain: Pugwash Co. shares 5,400 400 3 31 Dec. 20X9 Investment in Minto Co. shares Investment in Pugwash Co. shares 4. Prepare the all entries required in 20X9. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transactior. View journal entry worksheet EX: Debit Credit 5.075 5.075 1 Record the dividends received. 2 Record the sale of 200 shares of Pugwash stock. 5.800 5.400 res 400 3 Record the adjusting entry to record fair value of Mint Co. shares. 4 Record the adjusting entry to record fair value of Pugwash Co. shares. 5. Show the amount that would be reported in 2979 earnings and the asset amounts on the statement of financial position Earnings, 2049 5 0 Statement of financial position, 31 December 2049 FVTPL investments, at fair value 6. Repeat part (5), assuming that both the investments were originally designated FVOCI-Equity investments. Include the balance of the AOCI equity rserve for holding gain/loss for the SFP amounts. The holding gain/loss amounts are not reclassified after realization, Earnings, 20X9 Investment revenue Statement of financial position, 31 December 20x9 FVTOCI investments, at fair value Other comprehensive income (loss)