On January 1, 2021, Giant Co. purchased the following investments for cash: 15,000 shares Rock Co. stock 45,000 shares Boulder Co. stock $20,000 $250,000 Both Rock and Boulder have 100,000 common shares outstanding. During 2021, Rock and Boulder had the following information: Net Cash Dividends Market Price per Income Share at per Share 12/31/21 Rock Co. $150,000 $0.25 $1.20 Boulder Co. $400,000 $0.45 $6.70 Instructions: 1. How should each of these investments be accounted for? Why? 2. For each investment, journalize the following transactions for Giant Co.: A. Purchase of investments on January 1, 2021. B. Dividends received from the investments during 2021. C. Any adjustment for net income earned by the investment. D. Any adjustment for the investment's year-end market price.