Problem 17-10 Cullumber, Inc. had the following equity investment portfolio at January 1, 2017. 1,030 shares @ $14 each 910 shares @ $19 each 510 shares @ $9 each Evers Company Rogers Company Chance Company Equity investments @ cost Fair value adjustment Equity investments @ fair value $14,420 17,290 4,590 36,300 (7,350) $28,950 During 2017, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Cullumber, Inc. sold 280 shares of Chance Company for $10 per share. 3. On May 15, Cullumber, Inc. purchased 110 more shares of Evers Company stock at $15 per share. 4. At December 31, 2017, the stocks had the following price per share values: Evers $16, Rogers $18, and Chance $8. During 2018, the following transactions took place. 5. On February 1, Cullumber, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2018, the stocks had the following price per share values: Evers $18 and Rogers $20. Prepare journal entries for each of the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (1) Cash Dividend Revenue (2) cash Gain on Sale of Investments Equity Investments (3) Equity Investments Cash (4) Fair Value Adjustment x- Unrealized Holding Gain or Loss -Income (5) Cash TT Loss on Sale of Investments Equity Investments (6) Tcash Dividend Receivable COCOTITO (7) Dividend Receivable Dividend Revenue (8) Fair Value Adjustment Unrealized Holding Gain or Loss - Income Your answer is partially correct. Try again. Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2017 and 2018. Cullumber, Inc. Balance Sheet (Partial) December 31, 2017 December 31, 2018 Current Assets Dividend Receivable Investments OU AO TEquity Investments