On January 18, 2020, Ehrlich Company purchased 30,000 shares (10%) of common stock of Portal Corporation as a long-term investment for $960,000. On March 26, 2020, Portal paid total dividends of $120,000. On July 19, 2020, Ehrlich sold 10,000 of its shares for $28 per share. On September 29,2020, Portal paid a dividend to shareholders of $.50 per share. At 12/31/20, Portal Corporation reported net income of $370,000. Instructions 1. Prepare the journal entry to record the investment in Portal stock. 2. Record the entry for the receipt of dividends on March 26, 2020 3. Record the sale of the shares on July 19, 2020 4. Record the receipt of dividends on September 29,2020 5. What is the balance of the Stock Investments account on Ehrlich Company's books at the end of the year