Selk Steel 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 73,000 shares (30% of total) of Kildaire's common stock for $1,533,000.
Oct.		23		Kildaire declared and paid a cash dividend of $4.60 per share.
Dec.		31		Kildaire's net income for 2017 is $1,304,000, and the fair value of its stock at December 31 is $31.40 per share.

2018

Oct.		15		Kildaire declared and paid a cash dividend of $3.50 per share.
Dec.		31		Kildaire's net income for 2018 is $1,616,000, and the fair value of its stock at December 31 is $33.40 per share.

2019

Jan.

2

Selk sold all of its investment in Kildaire for $1,921,000 cash. 2. Compute the carrying (book) value per share of Selks investment in Kildaire common stock as reflected in the investment account on January 1, 2019. (Round your answer to 1 decimal place.) 3. Compute the net increase or decrease in Selks equity from January 5, 2017, through January 2, 2019, resulting from its investment in Kildaire.

2017 2018 2019 Prepare journal entries to record these transactions and events for Selk. View transaction list Journal entry worksheet 2 3 Selk purchased 73,000 shares (30% of total) of Kildaire's common stock for $1,533,000. Note: Enter debits before credits. General Journal Debit Credit Date Jan 05, 2017 Record entry Clear entry View general journal