Required information Use the following information for the Problems below. The following information applies to the questions displayed below! Selk Steel Co, which began operations in Year 1 had the following transactions and events in its long term investments Year 1 Jan 5 Selk purchased 45,000 shares (20% of total of Kildare common stock for $1,000,000 oct. 23 Kildaire declared and paid a cash dividend of $2.90 per share. Dec. 31 Kildare's net income for the year $1,111,000 and the tale value of its stock December 31 32 per share. Year 2 Oct. 15 Kildare declared and paid a cash dividend of $2.00 per share Dec 31 Kildaire's net income for the year $1.239.000 and the fair value of its stock December 11 share Year 3 Jan. 2 Selk sold 3 equal to 1.350 Shares of its investment in Kildare for $69.00 wib Problem 15-5A Accounting for long-term investments in stock with significant influence LO P5 Required: 1. 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 Answer is not complete. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and events for Selk. No General Journal Credit Date Jan 05 Debit 1,080,000 1 Stock investments Cash 2 Oct 23 130 500 Cash Stock investments 130.500 3 Dec 31 222 200 Stock investments Earnings from equity method investments 222,200 Year 2 > X Answer is not complete. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and events for Selk. No Date General Journal Credit Debit 117,000 1 Oct 15 Cash Stock investments 117.000 2 Dec 31 X 227 800 Stock investments Earnings from equity method investments 227,800 Year 1 Year 3 > Answer is not complete. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year Prepare journal entries to record these transactions and events for Salk. No Date Debit Credit 1 Jan 02 69.500 General Joumal Cash Gain on sale of stock investments Stock Investments 1350 68,150 $