On November 3, 2014, Sprinkle Co. invested $264,690 in 5,190 shares of the common stock of Pratt Co. Sprinkle classified this investment as available-for-sale. Sprinkle Co. is considering making a more significant investment in Pratt Co. at some point in the future but has decided to wait and see how the stock does over the next several quarters. To hedge against potential declines in the value of Pratt stock during this period, Sprinkle also purchased a put option on the Pratt stock. Sprinkle paid an option premium of $740 for the put option, which gives Sprinkle the option to sell 5,190 Pratt shares at a strike price of $51 per share. The option expires on July 31, 2015. The following data are available with respect to the values of the Pratt stock and the put option.

Date		Market Price of Pratt Shares		Time Value of Put Option
December 31, 2014		$51 per share		$410
March 31, 2015		45 per share		190
June 30, 2015		42 per share		60

Prepare the journal entries for Sprinkle Co. for the following dates.

(1)		November 3, 2014Investment in Pratt stock and the put option on Pratt shares.
(2)		December 31, 2014Sprinkle Co. prepares financial statements.
(3)		March 31, 2015Sprinkle prepares financial statements.
(4)		June 30, 2015Sprinkle prepares financial statements.
(5)		July 1, 2015Sprinkle settles the put option and sells the Pratt shares for $42 per share.