Rowan Company purchases $400$ common shares $(40\%)$ of JBI Corporation as a long$-$term investment for $$620,000$ cash on January $1.$ JBI paid $$14,000$ in total cash dividends on November $1$ and reported net income of $$280,000$ for the year.

Rowan made entries to record $(1)$ the purchase of JBI shares, $(2)$ the receipt of its share of JBI dividends, and $(3)$ the December $31$ year$-$end adjustment for its share of JBI net income. Analyze Rowan$$s entries by showing each entry$$s effect on the accounting equation$$specifically$,$ identify the accounts and amounts $($including $+$ or $)$ for each.

Assets $=$ Liabilities $+$ Equity

$1.$ Loss on sale of stock investments $=+$

$1.=+$

$2.=+$

$2.=+$

$3.=+$