Problem 1 Equity Investments: Less than 20% Ownership On August 30, 4,200 shares of Redwood Company's common stock are acquired at a price of $30 per share plus a $500 brokerage commission. On September 15, a $0.70- per-share dividend was received on the Redwood Company's stock. On October 25, 2,100 shares of the Redwood Company's stock were sold for $25 per share less a $500 brokerage commission. At the end of the accounting period on December 31, the fair value of the remaining 2,100 shares of Redwood Company's stock was $24 per share. Redwood Company has 350,000 shares of common stock outstanding. Journalize the entries for the original purchase, dividend, sale, and change in fair value under the fair value method.