Remaining Time: 1 hour, 12 minutes, 33 seconds. Question Completion Status: QUESTION 4 Al-Wafa Corp acquired 16% of the 4,000,000 shares of the common stock of Dubai Airport Co. at a cost of AED 5 per share on January 1, 2019. On March 20, 2019, Dubai Airport Co. declared and paid cash dividends AED 1.5 per share. On December 31 2019, Dubai Airport Co. reported a balance for a fair value adjustment account for AED 20,000 debit. In addition, on December 31 2019, Dubai Airport Co. reported net income for AED 230,000 Instructions: 1- Record the journal entry on January 1, 2019 (4 marks) 2- Record the journal entry on March 20, 2019 (4 marks) 3- Record the journal entry on December 31, 2019 (8 marks) 4-Calculate the balance of the following: A- A-The fair value or the selling price on 31/12/2019 (2 marks) B- B-The investment on equity on 31/12/2019 ( 2 marks) Save Alte fast and Submit to save and submit. Click Save All Answers to save all ansvers