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 $18,200. The following information applies to the fair value of Reimer Company: 12/31/2018 12/31/2019 12/31/2020 Per Share $21 15 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 40 percent of Reimer's stock. Reimer reported $49,000 of net income each year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the purchase of 1,300 shares (40%) of Reimer Company for $18,200. The company will record the investment under the equity method of accounting. Note: Enter debits before credits. General Journal Debit Credit Date July 12, 2018 Record entry Clear entry View general journal View transaction list Journal entry worksheet