Purchased 800 shares of Phyflexon stock, paying $50 per share. The investment represents 4% ownership in Phyflexon's voting stock. Strategic does not have significant influence over Phyflexon. Strategic intends to hold Jan. 14 the investment for the indefinite future. Aug. 22 Received a cash dividend of $0.24 per share on the Phyflexon stock. Dec. 31 Adjusted the investment to its current market value of $45 per share. Dec. 31 Phyflexon reported net income of $330,000 for the year ended 2018. Requirement 2. Classify and prepare a partial balance sheet for Strategic's Phyflexon investment as of December 31, 2018. (Use a minus sign or parentheses to enter a loss. If a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero.) Current Assets: Long-term Assets: 3. Prepare a partial income statement for Strategic Investments for year ended December 31, 2018