On February 1, 2018, Rose Company invests $12,000 in Pears, Inc. stock. Pears pays Rose a $500 dividend on July 1, 2018. Rose sells the Pears's stock on July 31, 2018, for $12,300 Assume the investment is categorized s a short-term equity investment and Rose Company does not have significant influence over Pears, Inc. Read the requirements Pears' stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the transactions for Rose's investment Begin by journalizing Rose's initial investment in Pears, Inc., stock. Date Accounts and Explanation Debit Credit Feb. 1 Next, journalize Rose's receipt of the July 1 dividend. Date Accounts and Explanation Debit Credit Jul. 1 On February 1, 2018, Rose Company invests $12,000 in Pears, Inc. stock. Pears pays Rose a $500 dividend on July 1, 2018. Rose sells the Pears's stock on July 31, 2018, for $12,300. Assume the investment is categorized s a short-term equity investment and Rose Company does not have significant influence over Pears, Inc. Read the requirements Next, journalize Rose's receipt of the July 1 dividend Date Accounts and Explanation Debit Credit Jul. 1 Now journalize Rose's sale of the Pears, Inc., stock on July 31. Date Ac it Jul. 31 On February 1, 2018, Rose Company invests $12,000 in Pears, Inc. stock. Pears pays Rose a $500 dividend on July 1, 2018. Rose sells the Pears's stock on July 31, 2018, for $12,300. Assume the investment is categorized as a short-term equity investment and Rose Company does not have significant influence over Pears, Inc. Read the requirements Now journalize Rose's sale of the Pears, Inc., stock on July 31 Debit Credit Date Accounts and Explanation Jul. 31 Requirement 2. What was the net effect of the investment on Rose's net income for the year ended December 31, 2018? by $ Rose's net income for the year has