Required information

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

On July 12, 2018, Rossow Corporation purchased 1,300 shares of Reimer Company for $52,000. The following information applies to the fair value of Reimer Company:

	Per Share
12/31/2018	$	44
12/31/2019		43
12/31/2020		35

Reimer Company declares and pays cash dividends of $3 per share on May 1 of each year.

2. Prepare journal entries to record the facts in the case, assuming Rossow owns 38 percent of Reimers stock. Reimer reported $39,000 of net income each year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)