QUESTION 1 The following information relates to the equity investments to Zen Company on 2019. 1. On January 1, Zen acquires 50,000 ordinary shares (represent 30% ownership) of Mango Plc for $130,000. 2. On May 1, Zen purchased 2,000 shares (less than 10% ownership) of Lulu Co. at $18 per share. 3. On June 1, Zen purchased 3,000 shares (less than 10% ownership) of Tokyo Co. at $15 per share 4. On July 1, Zen sold 500 shares of Lulu for $19 per share. 5. On September 30, Mango declared and paid cash dividend totalling to $100,000 6. On December 1, Lulu declared and paid a $1 per share cash dividend. 7. On December 10, Tokyo declared a cash dividend of $2 per share to be paid in the next month. 8. On December 31, Mango, Lulu, and Tokyo reported net income $230,000; $325,000; and 400,000 respectively. 9. On December 31, 2019, the shares had the following price per share value: Mango $25, Tokyo $17 and Lulu $17 Questions: A. Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these investments (except investment in Mango Plc. share) are managed to profit from changes in market price (held for trading). Note that Zen Company doesn't have equity investment before 2019. B. Prepare a partial statement of financial position showing the Investment account at December 31, 2019