The beginning balance sheet of Book Source Co. included a $700,000 investment in Essex stock (20 % ownership, Book has significant influence over Essex). During the year, Book Source completed the following investment transactions: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions for the year of Book Source. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Mar. 3: Purchased 6,000 shares at $12 per share of Josh Software common stock as a long-term equity investment, representing 4 % ownership, no significant influence. Accounts and Explanation Credit Date Debit Mar. 3 May 15: Received a cash dividend of $0.87 per share on the Josh investment Accounts and Explanation Date Debit Credit May 15 Dec. 31: Received Josh's annual report showing $110,000 of net income for the year. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Essex's stock fair value at year-end was $664,000. Date Accounts and Explanation Debit Credit Dec. 31 Dec. 31: Josh's common stock fair value at year-end was $13 per share. Accounts and Explanation Credit Date Debit Dec. 31 Requirement 2. Post transactions to T-accounts to determine the December 31, 2018, balances related to the investment and investment income accounts. (Select the missing investment account.) Equity Investments-Essex Revenue from Investments Dividend Revenue Equity Investments Fair Value Adjustment-Equity Investments Requirement 3. Prepare Book Source's partial balance sheet at December 31, 2018, from your answers in Requirement 2. (If a box is not used in the partial balance sheet, leave the box empty, do not select a label r enter a zero.) Book Source, Co. Balance Sheet (Partial) December 31, 2018 Assets Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Requirement 4. Where is the unrealized holding gain or loss associated with the Josh stock reported? The unrealized holding gain or loss associated with the Lili stock is included on the income statement in the the next question. Choose from any list or enter any number in the input fields and then continue X More Info i Requirements Mar. 3 Purchased 6,000 shares at $12 per share of Josh Software common stock as a long-term equity investment, representing 4 % ownership, no significant influence. 1. Journalize the transactions for year of Book Source Post transactions to T-accounts to determine the December 31, 2018 2. May Dec 15 Received a cash dividend of $0.87 per share on the Josh investment. 15 Received a cash dividend of $60,000 from Essex investment. balances related to the investment and investment income accounts 3. Prepare Book Source's partial balance sheet answers in Requirement 2 4. Where is the unrealized holding gain or loss associated with the Josh stock reported? December 31, 2018, from your 31 Reced u report showing $120,000 het ncome come for the year 31 Essex's stock fair value at year-end was $664,000. 31 Josh's common stock fair value at year-end was $13 per share. Print Done Print Done