Q.No.4 The following transactions are made by Alpine Company short-term marketable securities at December 31,2017. (Marks 10) 1. Alpine company purchases 5,000 shares of Eastern company for short-term investment at the rate of $45.50 per share on December 1, 2017. It also pays a brokerage commission of $100 for the purchase of these shares. 2. Alpine company has a short term investment of 5,000 shares in Easter company. It receives a dividend of $0.45 per share on this investment 3. Fast company purchases 5,000 shares of Eastern company at a cost of $45.52 per share on December 1, 2017 for the purpose of short term investment. Alpine sells 1,000 shares on December 20, 2017 at the rate of $46 per share and pays a $25 brokerage commission. 4. Refer to the (3) and suppose the Fast company sells an additional 2,000 shares of Eastern company on December 26 at a rate of $44.50 per share and pays a $35 brokerage commission Prepare a journal entry to record the sale of 2,000 shares by Fast company. 5. On December 31, 2017. Alpine company holds 2,000 shares of Eastern company at a cost of $45.52. On the same date, the market value of a share of Eastern company is $46 per share. 6. Refer to (1) and suppose the market value of securities is $44.50 per share on December 31 2017. Required: A. Prepare journal entries to record the transactions. B. Prepare a journal entry to make mark-to-market adjustment of marketable securities held by Alpine company on December 31, 2015. C. How will this entry impact the balance sheet on December 31, 20152||