Problem 17-10 (Part Level Submission) Buffalo, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 1,040 shares @ $16 each $16,640 Rogers Company 900 shares @ $22 each 19,800 Chance Company 510 shares @ $9 each 4,590 Equity investments @ cost 41,030 Fair value adjustment (7,420 ) Equity investments @ fair value $33,610 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Buffalo, Inc. sold 300 shares of Chance Company for $12 per share. 3. On May 15, Buffalo, Inc. purchased 100 more shares of Evers Company stock at $17 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $21, and Chance $8. During 2021, the following transactions took place. 5. On February 1, Buffalo, 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, 2021, the stocks had the following price per share values: Evers $20 and Rogers $23.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 0 for the amounts.) No. Account Titles and Explanation Debit Credit (1) Cash 1,800 x Investment Income 1,800 (2) TCash 3,600 Equity Investments 2,700 Gain on Sale of Investn 900 (3) Equity Investments 1,700 Cash 1,700 (4) Equity Investments 0 Fair Value Adjustment (5) Cash 1,680 X Equity Investments 1,680 Gain on Sale of Investn 690(6) Cash 1,800 Dividend Revenue 1,800 Dividend Receivable 3,120 Dividend Revenue 3,120 (8) Equity Investments 0 Fair Value Adjustment