On January 1, 2018, Green Company invests $16,000 in Lilacs, Inc. stock. Lilacs pays Green a $350 dividend on October 1, 2018. Green sells the Lilacs's stock on October 31, 2018, for $16,600. Assume the investment is categorized as a short-term equity investment and Green Company does not have significant influence over Lilacs, Inc. Read the requirements. * Requirements IN -X Requirement 1. Joumali Select the explanation or Begin by journalizing Gre 1. Journalize the transactions for Green's investment in Lilacs's stock. Date 2. What was the net effect of the investment on Green's net income for the year ended December 31, 2018? Jan. 1 Print Done Done gin by journalizing Green's initial investment in Lilacs, Inc., stock. Accounts and Explanation Debit Credit Date Jan. 1 Next, journalize Green's receipt of the October 1 dividend. Debit Accounts and Explanation Date Credit Oct. 1 Now journalize Green's sale of the Lilacs, Inc., stock on October 31. Date Accounts and Explanation Debit Credit Oct. 31 Choose from any list or enter any number in the input fields and then continue to the next question. Now journalize Green's sale of the Lilacs, Inc., stock on October 31. Debit Accounts and Explanation Date Credit Oct 31 Requirement 2. What was the net effect of the investment on Green's net income for the year ended December 31, 2018? Green's net income for the year has by $ Choose from any list or enter any number in the input fields and then continue to the next question. Accounts and Explanation Debit Debit Cre Available-for-Sale Debt Investments Cash lize Dividend Revenue Equity Investments Fair Value Adjustment- Available-for-Sale Fair Value Adjustment Trading Gain on Disposal Held-to-Maturity Debt Investments Interest Revenue Loss on Disposal Trading Debt Investments nalize Unrealized Holding Loss-Available-for-Sale Unrealized Holding Loss-Trading Debit Cred 31