! Required information [The following information applies to the questions displayed below.] Below are selected T-accounts related to equity investments for William Company. 1/1 Balance Investments 83,636 12,854 Purchase Share of affiliate's earnings ? 10,107 Share of affiliate's dividends 12/31 Balance 89,430 Equity in Investee Earnings 0 1/1 Balance ? Share of affiliate's earnings 3,047 12/31 Balance Required: a. Prepare the journal entry for the purchase of additional investments in affiliated companies for cash. b. Prepare the journal entry for the declaration of cash dividends on the investments. c. At year-end, the investments account had a fair value of $62,800; the affiliates also reported $5,890 in net income for the year. Prepare the year-end journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list :X: 1 Record purchase of additional investment in affiliates. 2 Record dividend income. 3 Recognize the fair value of the investments at year end. 4 Record adjusting entry to account for net income