on feb 1, 2015, michelle co. decides to invest excess cash of 30,000 by purchasing 1000 shares of celina, inc. stock at $30 per share. On july1,2015, celina, inc declared and paid $0.50 dividend per share. At year end, december 31, 2015, celina's market price was $23 per share. On july1, 2016, celina inc. declared and paid $0.30 dividend per share. At year-end, december 31, 2016, market price was $40 per share. The investment is categorized as a trading investment. (25%)

required:

1. prepare journal entries for:

a. feb 1, 2015

b. july 1, 2015

c. december 31, 2015

d. july1, 2016

e. dec 31, 2016

2. what was the net effect of the investment on michelle co. net income for the year ended dec 31, 2015?