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Selk Steel Company, which began operations in Year 1, had the following transactions and events in its long-term investments: Year 1 January 5 Selk purchased 70,000 shares (201 of total) of kilaire's comton stock for $2,030,000, October 23 Kildaire declared and paid a cash dividend of $3,80 per share. December 31 Kildaire's net income for the year is $1,178,000, and the fair value of its stock at December 31 is $37 per share. Year 2 October 15 Kildaire declared and paid a eash dividend of $3,50 per share. December 31 Kildaire's net incothe for the year is $1,177,000, and the fair value of 1 ts stock at December 31 is $39 per share. Journal entry worksheet Selk purchased 70,000 shares ( 20% of total) of Kildaire's common stock for $2,030,000. Note: Enter debits before credits. Kildaire declared and paid a cash dividend of $3.80 per share. Note: Enter debits before credits. Kildaire's net income for the year is $1,178,000, and the fair value of its stock at December 31 is $37 per share. Note: Enter debits before credits. Kildaire declared and paid a cash dividend of $3.50 per share. Note: Enter debits before credits: Journal entry worksheet Kildaire's net income for the year is $1,177,000, and the fair value of its stock at December 31 is $39 per share. Note: Enter debits before credits. Selk sold 3% (equal to 2,100 shares) of its investment in Kildaire for $67,700 cash. Note: Enter debits before credits