Prepare journal entries for the following events. For all the items, you are preparing entries from the perspective of the party purchasing the investment.

For any unrealized gain$/$loss accounts you use, make sure you designate whether the gain$/$loss passes through net income or comprehensive income.

Equity Investments: Less than $20\%.$

Company X purchased $10\%$ of the common stock of Company $Q$ on $1/1\frac{?}{24}$ for $50.$

Prepare the entry for the purchase of $Q$ stock.

During $2024,$ Company X received dividends of $2$ from Company Q$.$ Prepare the entry.

On $12/31/24,$ the fair value of the investment is $51.$ Prepare the appropriate$12/31\frac{?}{24}$ entry.

On $12/31/25,$ the fair value of the $Q$ stock was $48.$ Prepare the $12/31\frac{?}{25}$ entry.