Problem 17-10 Waterway, Inc. had the following equity investment portfolio at January 1, 2017. Evers Company Rogers Company Chance Company Equity investmentscost Fair value adjustment Equity investmentsfair value 960 shares@ $15 each 860 shares@ $19 each 480 shares@$8 each $14,400 16,340 3,840 34,580 (7,780) $26,800 During 2017, the following transactions took place 1. On March 1, Rogers Company paid a $2 per share dividend 2. On April 30, Waterway, Inc. sold 300 shares of Chance Company for $12 per share 3. On May 15, Waterway, Inc. purchased 110 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 $18, and Chance $7 During 2018, the following transactions took place 5. 6. 7. 8. On February 1, Waterway, Inc. sold the remaining Chance shares for $7 per share On March 1, Rogers Company paid a $2 per share dividend On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month At December 31, 2018, the stocks had the following price per share values: Evers $19 and Rogers $20 No. Account Titles and Explanation Debit Credit (1) Cash 1720 Dividend Revenue 1720 (2) Cash 3600 Equity Investments 2700 Unrealized Holding Gain or Loss Equity 900 SHOW LIST OF ACCOUNTS Waterway, Inc. Balance Sheet (Partial) December 31, 2017 December 31, 2018 SHOW LIST OF ACCOUNTS