Pink Floyd CO. buys and sells equity securities expecting to earn profits on short-term differences in price. Thus, this investment does not give Pink Floyd significant influence over investee companies. The company's fiscal year ends on 12/31/. The following selected transactions relating to Pink Floyd's trading account occurred during December 2019 and the first week in 2020. 2019 December 17 Purchased 100,000 Dark Side of the Moon CO.'s preferred shares for $350,000 28 Received cash dividends of $8,000 from Dark Side of the Moon's preferred shares 31 Recorded any necessary adjustment entry relating to Dark Side of the Moon's preferred shares. The market price of the stock was $4.1 per share 2020 Sold the Dark Side Of the Moon Preferred shares for $400,000 January 5 Record all entries needed for these transactions