Selk Steel Co., which began operations in Year 1, had the following transactions and events in its long-term investments. Year 1 Jan. 5 Selk purchased 50,000 shares (20% of total) of Kildaire's common stock for $1,700,000. Oct. 23 Kildaire declared and paid a cash dividend of $2.40 per share. Dec. 31 Kildaire's net income for the year is $1,179,000 and the fair value of its stock at December 31 is $40 per share. Year 2 Oct. 15 Kildaire declared and paid a cash dividend of $2.10 per share. Dec. 31 Kildaire's net income for the year is $1,176,000 and the fair value of its stock at December 31 is $42 per share. Year 3 Jan. 2 Selk sold 3% (equal to 1,500 shares) of its investment in Kildaire for $65,300 cash. 1 Selk purchased 50,000 shares (20% of total) of Kildaire's common stock for $1,700,000. 2 Kildaire declared and paid a cash dividend of $2.40 per share. 3 Kildaire's net income for the year is $1,179,000, and the fair value of its stock at December 31 is $40 per share. 1 Kildaire declared and paid a cash dividend of $2.10 per share. 2 Kildaire's net income for the year is $1,176,000, and the fair value of its stock at December 31 is $42 per share. Selk sold 3% (equal to 1,500 shares) of its investment in Kildaire for $65,300 cash. X: 1 Selk purchased 50,000 shares (20% of total) of Kildaire's common stock for $1,700,000. 2 Kildaire declared and paid a cash dividend of $2.40 per share. 3 Kildaire's net income for the year is $1,179,000, and the fair value of its stock at December 31 is $40 per share. X: 1 Kildaire declared and paid a cash dividend of $2.10 per share. 2 Kildaire's net income for the year is $1,176,000, and the fair value of its stock at December 31 is $42 per share. Selk sold 3%(equal to 1,500 shares) of its investment in Kildaire for $65,300 cash. Note: Enter debits before credits