Selk Steel Co., which began operations on January 4, 2015, had the following subsequent transactions and events in its long-term investments.

2015

Jan.	5	Selk purchased 60,000 shares (20% of total) of Kildaire's common stock for $1,560,000.
Oct .	23	Kildaire declared and paid a cash dividend of $3.20 per share.
Dec.	31	Kildaire's net income for 2015 is $1,164,000, and the fair value of its stock at December 31 is $30.00 per share.

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Problem "lb-4A Accountlng Tor long-term Investments In securlues; Wltl'l and Without SIgnITICnI Inuence LU P3, P4 {The following information applies to the questions displayed below] Selk Steel Co, whlch began operauons on January 4. 2015. had the followlng subsequent transactlons and events In Its longterm Investments. 2015 Jan. 5 Sell: purchased 60.000 shares [20% of total} of Klldalre's common stock for $1,560,000. Oct _ 23 Klldalre declared and pald a cash dlvldend of $3.20 per share. Dec. 31 Klldalre's net Income for 2015 Is $1,164,000, and the falr value of Its stock at December 31 Is $30.00 per share. 2016 Oct 15 Klldalre declared and pald a cash deend of $2.60 per share. Dec. 31 Klldalre's net Income for 2016 Is $1476.000. and the falr value of Its stock at December 31 Is $32.00 per share. 2017 Jan. 2 Selk sold all of Its Investment In Klldalre for $1,894.000 cash. References Section Break Problem 15-4A Accounting for long-term investments in securities; with and without signicant influence LO P3, P4 value: 4.00 points Problem 154A Part1 Part 1 Assume that Selk has a signicant inuence over Kildaire with its 20% share of stock. Required: 1. Prepareja-umal entries to record these transactions and events for Selk. [If no entry is required select No journal entry required in the rst entry field.} View tran section list View general jou rnal Journal Entry Worksheet II E] E] Selk purchased 60,000 shares (20% of total) of Kildaire's common stock ' for $1,550,000. ' Jan 05, 2015 'Enter debits before credits Juu rnal Entryr Worksheet @l E] E] E] Hildaire declared and paid a cash dividend of $3.20 per EhEIFE. Get 23, 2315 =|=Enter debite befere eredite leerem record entryr i i | Journal Entryr Worksheet @l [E [E [E Kildaire's net inccme fcr 2015 is $1,104,000, and the fair value cf its stuck at December 31 is $30.00 per share. *Enter debitc befc-re credits E] Journal Entryr Worksheet IE E] E] Kildeire declared and paid a cash dividend of $2.5D per share. ="Enter debite befere credits. (I]