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On November 1, 2020, Drucker Co. acquired the following investments in equity securities measured at FV-NI. Kelly Corporation-650 shares of common stock (no-par) at $60 per share. Keefe Corporation390 shares preferred stock ($10 par) at $20 per share. On December 31, 2020, the company's year-end, the quoted market prices were as follows: Kelly Corporation common stock, $52, and Keefe Corporation preferred stock, $24. Following are the data for 2021. Mar. 2, 2021 Dividends per share, declared and paid: Kelly Corp., $1, and Keefe Corp., $0.50. Oct. 1, 2021 Sold 130 shares of Keefe Corporation preferred stock at $25 per share. Dec 31, 2021 Fair values: Kelly common, $46 per share, Keefe preferred, $26 per share. Journal Entries and Financial Statement Presentation for 2020 Journal Entries and Financial Statement Presentation for 2021 780 X 0 0X d. Prepare the entries required in 2021 to record dividend revenue, the sale of stock, and the fair value adjustment. Update the Fair Value Adjustment account prior to recording any sale. Note: List multiple debits or credits (when applicable) in alphabetical order. Date Account Name Dr. Cr. Mar. 2, 2021 Cash 845 0 Dividend Revenue 845 Oct. 1, 2021 Fair Value Adjustment--Equity Securities Unrealized Gain or Loss--Income 0 To adjust to fair value, investment to be sold. Oct. 1. 2021 Cash 3,250 Fair Value Adjustment--Equity Securities Investment in Stock 3,640 x To record sale of securities Dec. 31, 2021 Unrealized Gain or Loss--Income OX Fair Value Adjustment--Equity Securities 0 780 X 0 0X e. Indicate items and amounts that should be reported on the 2021 income statement and year-end balance sheet. Note: Use a negative sign to indicate a loss. Income Statement 2021 Other Revenues and Gains Dividend revenue $ 0x Net gain (loss) on equity securities $ 2021 Balance Sheet, December 31 Assets Investment in equity securities $ OX