Ship Your Way Company completed these long-term equity investment transactions during 2018: (Click the icon to view the transactions.) Read the requirements. 1. Journalize Ship Your Way Company's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Apr 10: Purchased 600 shares of Tycon stock (less than 15% of Tyoon's outstanding stock), paying $20 per share. Ship Your Way Company intends to hold the investment indefinitely Journal Entry Accounts Debit Credit Date Apr 10 i Requirements Jul 22: Received a cash dividend of $1.29 per share on the Tycon stock. Journal Entry 1. Journalize Ship Your Way Company's investment transactions. Explanations are not required. 2. Assume the Tycon stock is Ship Your Way Company's only investment. Explain how these transactions will be reflected on Ship Your Way Company's income statement for the year ended December 31, 2018 3. Show how to report the investment on Ship Your Way Company's balance sheet at December 31, 2018. Ignore income taxes. Accounts Debit Credit Date Jul 22 Print Done Dec 31: Adjusted the Tycon investment to its current market value of $5,900. Date Accounts Debit Credit Dec 31 X Requirements 2. Assume the Tycon stock is Ship Your Way Company's only investment. Explain how these transactions will be reflected on The income statement will report of $ and of $ 3. Show how to report the investment on Ship Your Way Company's balance sheet at December 31, 2018. Ignore income taxe 1. Journalize Ship Your Way Company's investment transactions. Explanations are not required. 2. Assume the Tycon stock is Ship Your Way Company's only investment. Explain how these transactions will be reflected on Ship Your Way Company's income statement for the year ended December 31, 2018. 3. Show how to report the investment on Ship Your Way Company's balance sheet at December 31, 2018. Ignore income taxes. Ship Your Way Inc. Balance Sheet (Partial) December 31, 2018 Assets Print Done Long-term assets Dec 31: Adjusted the Tycon investment to its current market value of $5,900. Date Accounts Debit Credit Dec 31 Cash i Requirements - x