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 50,000 shares (20\% ol total) of kIldalre's common stock for \$1, 100,000. october 23 Kildaire declared and pald a cash dividend of $2.10 per share. is $26 per share. Year 2 October 15 KIldaire declared and paid a cash dividend of $2.90 per share. is \$29 per share. Year 3 January 2 Selk sold 3 s (equal to 1,500 shares) of its investment in ildalre for \$68,900 cash. equired: epare journal entries to record these transactions and events for Selk. Assume that Selk has a significant influence over Kildaire with 20% share of stock. Journal entry worksheet Selk purchased 50,000 shares (20\% of total) of Kildaire's common stock for $1,100,000. Note: Enter debits before credits. Journal entry worksheet Kildaire declared and paid a cash dividend of $2.10 per share. Note: Enter debits before credits. Journal entry worksheet Kildaire's net income for the year is $1,112,000, and the fair value of its stock at December 31 is $26 per share. Note: Enter debits before credits. Journal entry worksheet Kildaire declared and paid a cash dividend of $2.90 per share. Note: Enter debits before credits. Journal entry worksheet Kildaire's net income for the year is $1,106,000, and the fair value of its stock at December 31 is $29 per share. Note: Enter debits before credits. Journal entry worksheet Selk sold 3% (equal to 1,500 shares) of its investment in Kildaire for $68,900 cash. Note: Enter debits before credits