on jan 1, borat incorporated acquired 31% of the outstanding voting shares of shadrach company at a cost of $1525200 by acquiring 74400 of the total 240000 outstanding shares at a cost of $20.50 per share. borat elected the fair value option. during the year, shadrach reported 1231000 in net income and declared and paid 1.17 per share dividends. at the end of the year, the fair value of the investment is $1441200. Requirement A. prepare the journal entry to record the acquisition of the investment securities. B. prepare the journal entries at year end to record the fair value adjustment at the end of the year of acquisition. C. prepare the journal entry to record the sale of 70% of the shadrach common shares for $1676000 on jan 1 of the year following the acquisition