Rantzow-Lear Company buys and sells securities expecting to earn profits on short-term differences in price. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2016 and the first week of 2017. 2016 Purchased 150,000 Grocers' Supply Corporation preferred Dec. 17 shares for $525,000 8 Received cash dividends of $4,000 from the Grocers' Supply Corporation preferred shares. 31 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation preferred shares. The market price of the stock was $4 per share. 2017 lan Sold the Grocers' Supply Corporation preferred shares for an. 5 $,562,500. Required: 1. Prepare the appropriate journal entry for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)