Problem 17-10 Teal, Inc. had the following equity investment portfolio at January 1, 2017. 970 shares @ $15 each 860 shares @ $20 each 530 shares @ $9 each Evers Company Rogers Company Chance Company Equity investments @ cost Fair value adjustment Equity investments @ fair value $14,550 17,200 4,770 36,520 (7,280 ) $29,240 During 2017, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Teal, Inc. sold 320 shares of Chance Company for $11 per share. 3. On May 15, Teal, Inc. purchased 90 more shares of Evers Company stock at $16 per share. 4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance $8. During 2018, the following transactions took place. 5. On February 1, Teal, 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 $19 and Rogers $21. No. Account Titles and Explanation Debit Credit (1) Cash 1720 Dividend Receivable 1720 (2) Tcash 20 Gain on Sale of Investments 640 Equity Investments TULUUUUCE JIJUHIGGUHO: 2880 (3) Equity Investments 40 Cash 1440 (4) Fair Value Adjustment Unrealized Holding Gain or Loss - Income (5) Cash (5) (cash Loss on Sale of Investments Equity Investments (6) Cash Dividend Receivable DODOLOLO! DOLDILOLO ) Dividend Receivable Dividend Revenue (8) TFair Value Adjustment Unrealized Holding Gain or Loss - Income Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2017 and 2018. Teal, Inc. Balance Sheet (Partial) December 31, 2017 December 31, 2018 Investments Sales Revenue T Stockholders' Equity Accumulated Other Comprehensive Loss