Problem 15-4A Recording, adjusting, and reporting stock investments with insignificant influence P4 Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence Apr. 16 Purchased 3.500 shares of Gem Co stock at $24 per share. July 7 Purchased 2.000 shares of PepsiCo stock at $49 per share. 20 Purchased 1,000 shares of Xerox stock at $16 per share. Aug. 15 Received a $1.00 per share cash dividend on the Gem Co stock. 28 Sold 2.000 shares of Gem Co. stock at $30 per share. 1 Received a $2.50 per share cash dividend on the PepsiCo shares. Dec. IS Received a $1.00 per saure cash dividend on the remaining Gem Co shares. 31 Received a $1.50 per share cash dividend on the PepsiCo shares. Oct Required 1. Prepare journal entries to record the preceding transactions and events. 2. Prepare a table to compare the yearend cost and fair values of Rose's short-term stock investments. The year-end fair values per share are Gem Co., $26. PepsiCo. $46; and Xerox. $13. a Check out $150.000 3. Prepare an adjusting entry to record the yearend fair value adjustment for the portfolio of short-term stock investments. De Unrated Loss-Income. 56,000