Please help me to find the blanks.

(Dec 31-Income

Investment in Helsi co. stock)

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Stock Investment Transactions, Equity Method and Available-for-Sale Securities Glacier Products Inc. is a wholesaler of rock climbing gear. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Glacier Products Inc., which has a fiscal year ending on December 31: Year 1 Jan. 18. Purchased 8,300 shares of Malmo Inc. as an available-for-sale investment at $48 per share, including the brokerage commission. July 22. A cash dividend of $0.45 per share was received on the Malmo stock. Oct. 5. Sold 2,500 shares of Malmo Inc. stock at $51 per share less a brokerage commission of $30. Dec. Received a regular cash dividend of $0.45 per share on Malmo Inc. stock. 18. Dec. 31 Malmo Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $45 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment. Year 2 Jan. 25. Purchased an influential interest in Helsi Co. for $610,000 by purchasing 52,500 shares directly from the estate of the founder of Helsi. There are 150,000 shares of Helsi Co. stock outstanding. July 16. Received a cash dividend of $0.55 per share on Malmo Inc. stock. Dec. Received a cash dividend of $0.55 per share plus an extra dividend of $0.15 per share on Malmo Inc. stock. 16. Dec. 31 Received $18,000 of cash dividends on Helsi Co. stock. Helsi Co. reported net income of $74,000 in Year 2. Glacier Products Inc. uses the equity method of accounting for its investment in Helsi Co. Dec. 31 Malmo Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $52 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment for the increase in fair value from $45 to $52 per share. Required: 1. Journalize the entries to record the preceding transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. In your computations, round per share amounts to two decimal places. Required: 1. Journalize the entries to record the preceding transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. In your computations, round per share amounts to two decimal places. Date Description Debit Credit Year 1 Jan. 18. Investments-Malmo Inc. 398,400 Cash 398,400 July 22. Cash 3,735 Dividend Revenue 3,735 Oct. 5. Cash 127,470 Gain on Sale of Investments 7,470 Investments-Malmo Inc. 120,000 Dec. 18. Cash 2,610 Dividend Revenue 2,610 Dec. 31 Unrealized Gain (Loss) on Available-for-Sale Investments 17,400 Valuation Allowance for Available-for-Sale Investments 17,400 Year 2 Jan. 25. Investment in Helsi Co. Stock 610,000 Cash 610,000 July 16 Cash 3,190 Dividend Revenue 3,190 Dec. 16. Cash 4,060 Dividend Revenue 4,060 Dec, 31 Dividends Cash 18,00d Investment in Helsi Co. Stock 18,000 Dec. 31 Investment in Helsi Co. Stock Income Income of Helsi Co. Dec. 31 Valuation Valuation Allowance for Available-for-Sale Investments 40,600 Unrealized Gain (Loss) on Available-for-Sale Investments 40,600 2. Prepare the investment-related asset and stockholders' equity balance sheet presentation for Glacier Products Inc. on December 31, Year 2, assuming that the Retained Earnings balance on December 31, Year 2, Is S445,000. Glacier Products, Inc. Balance Sheet (selected items) December 31, Year 2 Current Assets: 278,400 Available-for-Sale Investments (at Cost) Plus Valuation Allowance for Available-for-Sale Investments Available-for-Sale Investments (at Fair value) 23,200 301,600 Investments: Investment in Helsi Co. Stock Stockholders' Equity: Retained Earnings S 445,000