On February 12, 2,400 shares of Collins Company are acquired at a price of $43 per share plus a $120 brokerage fee. On April 22, a $1.30-per-share dividend was received on the Collins Company stock. On May 10, 960 shares of the Collins Company stock were sold for $37 per share less a $48 brokerage fee.

In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.

Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method.