Question 1 Kind Company has the following securities in ts portfolio of equity securities on December 31, 2021: Cost Fair Value 5,000 shares of Tim Corp. Common S151,000 $139,000 10,000 shares of Great Common 184,000 190.000 $335.000 $329.000 All of the securities had been purchased in 2021. In 2022, Kind completed the following securities transaction: March 1 Sold 5,000 shares of Tim Corp., Common @ $32 less fees of S1,500 April1 Bought 600 shares of Fair Stores, Common 845 plus fees of $650, The Kind Company portfolio of equity securities appeared as follows on December 31, 2022 Cost Fair Valve 10,000 shares of Great, Common $184,000 $195,500 800 shares of Fair Stores, Common 27.550 25.500 $211.550 $221.000 Instructions Prepare the general journal entries for Kind Company for (a) the 2021 adjusting entry (6) the sale of the Tim Corp, stock, (c) the purchase of the Fair Stores stock. (d) the 2022 adjusting entry Question 2: Rich, Inc. acquired 40% of Doane Corporation's voting stock on January 1, 2021 for $1.200.000. During 2021. Doane camed S400,000 and paid dividends of $250,000 Rich's 30% interest in Doane gives Rich the ability to exercise igrificant influence over Done's operating and financial policies. During 2022. Doane earned 5600,000 and paid cash dividends of $200,000 on April 1 and $150,000 on October 1. On July 1, 2022, Rich sold half of its stock in Doane for 5560,000 cash . Before income taxes, what amount should Rich include in its 2021 income statement as a result of the investment? b. What should be the carrying amount of this investment in Rich's December 31, 2021 balance sheet? What should the gain be on sale of this investment in Rich's 2022 income statement