Problems Johnson Inc.'s non strategic investment portfolio at December 31, 2019, consisted of the following: bebt and Equity Investments 10,600 Xavier Corp. common shares 1,550 Youne Inc. common shares 126,000 Zed Corp. common shares Cost $173, 310 80,600 41,800 Fair Value $153,700 76,880 37,400 "The fair value adjustments were recorded on December 31, 2019, Johnson had no other debt and equity investments at December 31, 2019, other than those shown above. During 2020, Johnson engaged in the following transactions: 2820 Jan. 17 Sold 1, ese common shares of Young Inc. for $50,400. Dohnson Inc. planned to hold these shares for less than one year. Mar. 3 Purchased 5,600 common shares of Allen Corp. for $336,000. The shares represent a 30% ownership in Allen Corp. June 7 Received dividends from Allen Corp. at the rate of $3.10 per share. Aug 14 Sold the remaining Young Inc. shares at $32.10. Nov. 28 Purchased a 5% ownership in Davis Corp. by acquiring 18,600 common shares at a total of $94, 340. Johnson Inc. will sell these shares in six to nine months. Dec. 30 Sold 18,600 shares of Xavier Corporation for $169,600. Dec. 31 Allen Corp. announced a net profit of $283,000 for the year, Required: Journalize the above transactions. View transaction list Journal entry worksheet 1 2 3 4 5 67 1 2 3 6 Record the sale of equity investment. Note: Enter detts before credits General Journal Debit Credit Jan 17, 2020 Record entry Clear entry View general Journal Analysis Component: Assume the Allen Corp. shares were sold on January 16, 2021. for $370,000. Calculate the investment income or loss and select whether it is unrealized/realized