On February 1, 2018, Lee Co. decides to invest excess cash of $17,000 by purchasing a Lane, Inc. bond at face value. At year-end, December 31, 2018, the fair value of the Lane bond was $20,900. The investment is categorized as a trading debt investment Read the requirements Requirement 1. Journalize the transactions for Lee's investment in Lane, Inc. for 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) no entry Begin by journalizing Lee's investment in the Lane, Inc., bond. Date Accounts and Explanation Debit Credit Feb. 1 Journalize the adjustment, if required, at year-end, December 31, 2018. Lane's market price was $20,900 per share. JOurnalize the aojustment, IT requirea, at year-ena, Decemoer 3T, 2018. Lanes market price was S20,9UU per snare. Date Accounts and Explanation Debit Credit Dec. 31 Requirement 2. In what category and at what value would Lee report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Lane's bond be reported, if at all? on the balance sheet as of December 31, 2018 Lee would report the asset at $ classified as a The market price change would Requirement 3. What was the net effect of the investment on Lee's net income for the vear ended December 31, 2018? (Enter "0" as the amount if net income has not changed.) Lee's net income for the year ended December 31, 2018, has The amount by which net income has changed is S