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Required information

Problem $15-4$A $($Algo$)$ Recording, adjusting, and reporting stock investments with insignificarit influence LO P$4$

$[$The following information applies to the questions displayed below.$]$

Rose Company had no short$-$term investments prior to this year. It had the following transactions this year involving shortterm stock investments with insignificant influence.

April $16$ Purchased $4,000$ shares of Gem Company stock at $$28\mathrm{.}75$ per share. July $7$ Purchased $2,000$ shares of PepsiCo stock at $$50\mathrm{.}00$ per share. July $20$ Purchased $1,000$ shares of Xerox stock at $$18\mathrm{.}00$ per share. August $15$ Received a $$0\mathrm{.}80$ per share cash dividend on the Gem Company stock. August $28$ Sold $2,000$ shares of Gem Company stock at $$35\mathrm{.}50$ per share. October $1$ Received a $$1\mathrm{.}80$ per share cash dividend on the PepsiCo shares. December $15$ Received a $$0\mathrm{.}95$ per share cash dividend on the remaining Gem Company shares. December $31$ Received a $$1\mathrm{.}15$ per share cash dividend on the PepsiCo shares. The year$-$end fair values per share are Gem Company, $$31\mathrm{.}00$; PepsiCo, $$47\mathrm{.}25$; and Xerox, $$15\mathrm{.}00.$

Problem $15-4$A $($Algo$)$ Part $1$

Required:

Prepare journal entries to record the preceding transactions and events.