Saved He Required information [The following information applies to the questions displayed below.) Selk Steel Co., which began operations on January 4, 2017, had the following subsequent transactions and events in its long-term investments. 2017 Jan. 5 Selk purchased 80,000 shares (30% of total) of Kildaire's common stock for $2,080,000. Oct. 23 Kildaire declared and paid a cash dividend of $5.20 per share. Dec. 31 Kildaire's net income for 2017 is $1,364,000, and the fair value of its stock at December 31 is $32.00 per share. 2018 Oct. 15 Kildaire declared and paid a cash dividend of $4.10 per share. Dec. 31 Kildaire's net income for 2018 is $1,676,000, and the fair value of its stock at December 31 is $34.00 per share. 2019 Jan. 2 Selk sold all of its investment in Kildaire for $2,320,000 cash. Part 1 Assume that Selk has a significant influence over Kildaire with its 30% share of stock. Required: 1. Prepare Journal entries to record these transactions and events for Selk. (If no entry is required for a transaction/event, select