Required information [The following information applies to the questions displayed below] The following Information pertains to Rossow Corporation and its investee Reimer Company: a. Rossow purchased 2,500 shares of Reimer on July 12, 2021, for $45,000: b. Reimer reported $27,000 net income on December 31, 2021 c. Reimer's stock price was $24 on December 31, 2021; d. Reimer declared and paid a $4 per share cash dividend on May 1, 2022: e. Relmer reported $27,000 net income on December 31, 2022; and 1. Reimer's stock price was $20 on December 31, 2022 Required: 1. Prepare Journal entries to record the facts in the case, assuming Rossow owns less than 10 percent of Reimer's stock. (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 Record the purchase of 2,500 shares of Relmer Company for $45,000. The company reports the purchase as marketable equity securities Note: Enter debits before credits. Date General Journal Debit Credit July 12, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the valuation adjustment, if required, assuming the fair value of Relmer Company's stock on December 31, 2021 is $24 per share. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the $27,000 net income reported by its investee, Reimer Company, on December 31, 2021. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the receipt of cash dividends on May 1, 2022 of $4 per share. Note: Enter debits before credits. General Journal Debit Credit Date May 01, 2022 Record entry Clear entry View general Journal View transaction list Journal entry worksheet A B C D E E F > Record the $27,000 net income reported by its investee, Reimer Company, on December 31, 2022. Note: Enter debits before credits. Date December 31, 2022 General Journal Debit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet