On January 1, 2024, Bark Company invests $10,000 in Roots, Inc., stock. Roots pays Bark a $400 dividend on August 1, 2024 Bark sells the Roots' stock on August 31, 2024, for $10,450 Assume the investment is categorized as a short-term equity investment and Bark Company does not have significant influence over Roots, Inc Requirement 1. Joumalize the transactions for Bark's investment in Roots' stock (Record debits first, then credits Select the explanation on the last line of the joumal entry table) Begin by journalizing Bark's intal investment in Roots, Inc, stock Date Accounts and Explanation Jan 1 Next, joumalze Bark's receipt of the August 1 dividend Date Accounts and Explanation Debit Debit Credit Credit Requirements 1. Journalize the transactions for Bark's investment in Roots' stock. 2. What was the net effect of the investment on Bark's net income for the year ended December 31, 2024? Print Done - X On January 1, 2024, Bark Company invests $10,000 in Roots, Inc, stock. Roots pays Bark a $400 dividend on August 1, 2024. Bark sells the Roots' stock on August 31, 2024, for $10,450 Assume the investment is categorized as a short-term equity investment and Bark Company does not have significant influence over Roots, Inc. Read the equirement Next, journalize Bark's receipt of the August 1 dividend. Date Aug 1 Accounts and Explanation Now joumalize Bark's sale of the Roots, Inc, stock on August 31. Date Accounts and Explanation Aug 31 Debit Debit Credit Credit On January 1, 2024, Bark Company invests $10,000 in Roots, Inc. stock. Roots pays Bark a $400 dividend on August 1, 2024, Bark sells the Roots' stock on August 31, 2024, for $10,450. Assume the investment is categorized as a short-term equity investment and Bark Company does not have significant influence over Roots, Inc. Read the equirement Now journalize Bark's sale of the Roots, Inc., stock on August 31. Accounts and Explanation Date Aug. 31 Debit Credit Requirement 2. What was the net effect of the investment on Bark's net income for the year ended December 31, 20247 (Enter a net decrease with a minus sign or parentheses) Net effect on income for the year