Requirements Data Table 1. Joumalize Postage People Company's investment transactions. Explanations are not required 2. Assume the Veleon stock is Postage People Company's only investment Explain how these transactions will be reflected on Postage People Company's income statement for the year ended December 31, 2018 3. Show how to report the investment on Postage People Company's balance shoot at December 31, 2018. Ignore income tutte 2018 Apr 10 Purchased 300 shares of Volcon stock (less than 10% of Volcon's outstanding stock), paying $20 per share. Postage People Company intends to hold the investment indefinitely Jul 22 Received a cash dividend of $1.29 per share on the Volcon stock Dec 31 Adjusted the Volcon investment to its current market value of 5.100 Print Done Print Done 1. Page Pape Canary Indian cinquantained and det, then conductor on any manne) Redwood OR Jul 22: Received a cash dividend of $1.29 per share on the Velcon stock Journal Entry Accounts Date Debit Credit Jul 22 Dec 31: Adjusted the Veloon investment to its current market value of $5,100. Accounts Debit Credit Date Dec 31 2. Assume the Velcon stock is Postage People Company's only investment. Explain how these transactions will be reflected on Postage People Company's income statement for the year ended December 31, 2018 The income statement will report jors and of $ 3. Show how to report the investment on Postage People Company's balance sheet at December 31, 2018. Ignore Income taxes. (Use a parentheses or a minus sign when entering losses.) Postage People Inc. Balance Sheet (Partial December 31, 2018 Assets Long form assets Choose from any list or enter any number in the input fields and then continue to the next