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) or Kideire's common stock for exist1.560,000. Oct. 23 Kildaire declared and paid a cash dividend of exist320 per share. Dec. 31 Kildaire's net income for 2015 is exist1, 164,000, and the fair value of its stock at December 31 is exist30.00 per share. 2016 Oct 15 Kildaire declared and paid a cash dividend of S2.60 per share. Dec. 31 Kildaires net income for 2016 is exist1, 476,000, and the far value of its stock at December 31 is exist3200 per share. 2017 Jan. 2 selk sold all of its investment in Kildaire for exist1, 894,000 cash Assume that Selk has a significant influence over Kildaire with its 20% share of stock. Prepare journal entries to record these transactions and events for Selk (If no entry is required select No journal entry required in the first entry field.)