PROBLEM 1 (MODULE 4: EOUITY INVESTMENTS: RECORDING AND VALUING) The following securities are in Bear Co.'s portfolio of long-term securities at December 31, 2020 . On December 31, 2021, Bear Co. had the following transactions where the total fair value of the securities was equal to its cost during 2020 Jan 7 Purchased 300 ordinary shares of Whale Co. $80 per share Jan 11 Purchased 500$75 par value ordinary shares of Club Co at $90 per share 30% ownership. Jan 25 Received cash dividends $1.5 per share on Rabbit Co. ordinary shares. June 6 Received $1.2 per share cash dividend on Zebra Co. ordinary shares Aug 18 Sold 250 ordinary shares of Whale Co. for cash $35 per share Oct 14 Purchased additional 200$75 par value ordinary shares of Club Co. for $82 per share Nov 19 Received $5 per share cash dividend on Club Co. ordinary shares At December 31.2021 the fair values of the securities were: Instructions 1. Journalize the transactions 2. Journalize the adjustment for fair value and income claim by Bear Co