SilverEquipmentCorporationacquiredthefollowingequityinvestmentsatthebeginningofYear1.Silverdoesnothavesignificantinfluenceovertheinvestees.Bothcompaniesarepubliclytraded. (Clicktheicontoviewtheequityinvestments.) 2.)(Clicktheicontoviewthesharepricesattheendofyears1and Read the requirements. Requirement a. Prepare the journal entry to record the acquisition of the investments. (Prepare a single compound entry. Record debits first, then credits. Exclude explanations from any journal entries.) Requirement b. Prepare the journal entry to record the end of Year 1 fair value adjustment. (Prepare a single compound entry, Record debits first, then credits. Exclude explanations from any journal entries) Requirement c. Assume that Silver sells 5,900 Stiles Company shares for $57 per share at the beginning of Year 2. Prepare the journal entry required to record the sale. Silver does not correct the fair value adjustment account at this time. (Prepare a single compound entry. Record debits first, then credits. Exclude explanations from any journal entries.) Requirement d. Prepare the journal entry to record the end of Year 2 fair value adjustment. (Prepare a single compound entry. Record debits first, then credits. Exclude explanations from any journal entries.) Data table \begin{tabular}{|lccc|} \hline & \multicolumn{2}{c}{ Stiles } & Turner \\ Fair Value & Company & \multicolumn{2}{c|}{ Group } \\ End of year 1 & $55 & $83 \\ End of year 2 & $50 & $88 \\ \hline \end{tabular} Print Done Requirements a. Prepare the journal entry to record the acquisition of the investments. b. Prepare the journal entry to record the end of Year 1 fair value adjustment. c. Assume that Silver sells 5,900 Stiles Company shares for $57 per share at the beginning of Year 2. Prepare the journal entry required to record the sale. Silver does not correct the fair value adjustment account at this time. d. Prepare the journal entry to record the end of Year 2 fair value adjustment