SCIENCES DEPARTMENT OF ACCOUNTING S Points Korman Company has the following securities in its portfolio of equity securities on December 31, 2021: 5,000 shares of Thomas Corp., Common 10,000 shares of Gant, Common Cost beginning of 2021 $151,000 Fair Value end of 2021 $139,000 184,000 $335,000 Investment at Thomas Corp 30%, investment at Gant %15 190,000 $329,000 At the end of 2021 Thomas reported net income of $240,000, and Grand reported net income of $300,000 At the end of 2021 Thomas and Grand declared and paid dividends of $40,000 and $60,000 respectively Prepare the general journal entries for Korman Company for: 1. The purchase of investment in C.S. 2. Adjustments to fair value at the end of the year if needed 3. Adjustment for Net Income reported if needed 4. Adjustment for dividends if needed