Skywerd Corporation generaned excess cash and ivested in securities ss folows (Cick the icon to view the transactions.) 1 . Cassity e8 of the investments made durng 2016. (ABaume the investments represent less than 20% of ownership of outstanding voong 8tod) 2. Joumalize he 2016 bransacions xplanstions are not requ red. 3. Prepere T-eccounts for the ivestment asets, and show how to report the investments on Skywards balance sheet at December 31, 2016. Requirement 1. Classify "ch of the investments made ding 2016 (Assun, the investments represent less ran 20% of ownership of dutstanding voting sock.) Class caton Reason Veicon stock Requirement 2. Jounalize the 2016 transactions. Expanations are not recuired. (Record debits fhrst then credits. Exclude explanations from jounal entries. If no entry is required, select No entry required" on the fist ine of the Accounts column and leave the remaining oels bank Jul 2 Purchased 2800 shores *f Lu azar ie, cor rmon stock #: S15.00 per share. Skyward hode stock in bs active trad ao our t and plans to 301 th stock thin tre6 months, when the compan y il need th h for norm opo sfona O More Ie Aug 21: Receved a cash dhidend of $0.O per share on the Lumazone sock invesment J 2 Purchaaod 2800 chares of Lumazone, Inc. common stock al $15.00 per share. Skyward holds the stock in its active ading aocou and piana to ol tho stock within three months, when the company wil nd the cash tar norma operators. Aug. 21 Aug 21 Recaived a cah dvidand o so.rO par shane on the Lumezone stock investment. Sop. 1 Sold the Lumazone stock for $15.50 per share. Oct. Purchasod 900 chares of Veiccn stock at S23.00 per Sep 16: Sold the Lumszone stock for $15.50 per share. share. The stock held the 8ctlve tradirg 8ccount ac Shyward plana to held the Vocon tock for laaa than ive months Sep. 10 Dec 31 Velcon stock's current market price is $9.00 per Prin Dane Oc. 8: Purchssed 900 sheres of Velcon stock a $23.00 per share. The socx is held in the actve ading sccount as Skyward plans to hold the Velcon sock for less than fve monns. Odt. 8