Required information [The following information applies to the questions displayed below] Selk Steel Company, which began operations in Year 1, had the following transactions and events in its long-term investments. Year 1 January 5 Selk purchased 45,000 shares (28k of total) of Kildaire's common stock for $1,080,000. October 23 Kildaire declared and paid a cash dividend of $2.90 per share. December 31 Kildaire's net incone for the year is $1,111,000, and the fair value of its stock at December 31 is $32 per share. Year 2 October 15 Kildaire declared and paid a cash dividend of $2.60 per share. Decenber 31 Kildaire's net income for the year is $1,139,000, and the fair value of its stock at December 31 is $34 per share. Year 3 Janusry 2 selk sold 3 (equal to 1,350 shares) of its investment in Kildaire for $69,500 cash. Required: Prepare journal entries to record these transactions and events for Selk. Assume that Selk has a significant influence over Kildaire with its 20% share of stock. Prepare journal entries to record these transactions and events for Selk. Journal entry worksheet 2 Selk purchased 45,000 shares ( 20% of total) of Kildaire's common stock for $1,080,000 Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions and events for Selk. Journal entry worksheet 5 Klidaire deciared and paid a cash dividend of $2.60 per share. Notes Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions and events for Selk. Journal entry worksheet Selk sold 3% (equal to 1,350 shares) of its investment in Kildaire for $69,500 cash. Note: Enter debits before credits