Selk Steei 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 se,eee shares (20% of total) of Kildaire's comon stock for $1,3se,eee. Oct. 23 Ki1daire declared and paid a cash dividend of $4.88 per share. Dec. 31 Kildaire's net income for 2817 is s1,244,ee, and the fair value of its stock at Decesber 31 is sse.se per share. 2018 oct. 15 Kildaire deciared and paid a cash dividend of $2.9e per share. Dec. 31 kildaire's net income for 2818 is $1,55s,eee, and the fair value of its stock at Decenber 31 is $32.se per 2010 Jan. 2 Selk sold all of its investment dnkilda ire for s1.82,eee cash. Part 2 Assume that at oug Sel o ns 20% o. K dalre s outstanding stock, circumstances indicate tnat t does not have a signifcant influence over the investee and thet t is classified as an available-for-sale security investment Required: 1. Prepare journal entries to record the preceding transactions and events for Selk. Aiso prepare an entry dated January 2 2019, to remove any balance related to the fair value edjustment. (If no entry ls required for a transaction event, select "No Journal entry required" In the first account field.) Complete this question by entering your answers in the tabs below. 2017 2018 2019 2019 2018 2017 Prepare journal entries to record the preceding transactions and events for Selk. Also prepare an entry dated January 2, 2019, to remove any balance related to the fair value adjustment. View transaction list Journal entry worksheet 3 Kildaire declared and paid a cash dividend of $4.00 per share. Note: Enter debits before credts General Journal Debit Oct 23. 2017 Clear entry Record entry View general journal 2. Compute the cost per share of Selk's investment in Kildaire common stock as reflected in the investment account on January 1 2019 3. Compute the net increase or decrease in Selk's equity from January 5. 2017 through January 2. 2019, resulting from its investment in Kildaire