Pearl, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 970 shares @ $16 each $15,520 Rogers Company 890 shares @ $19 each 16,910 Chance Company 510 shares @ $9 each 4,590 Equity investments @ cost 37,020 Fair value adjustment (7,490 ) Equity investments @fair value $29,530 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Pearl, Inc. sold 310 shares of Chance Company for $10 per share. 3. On May 15, Pearl, Inc. purchased 90 more shares of Evers Company stock at $17 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $18, and Chance $8. During 2021, the following transactions took place. 5. On February 1, Pearl, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2021, the stocks had the following price per share values: Evers $20 and Rogers $20.