[The following information applies to the questions displayed below.] Gioia Company acquired some of the 78,000 shares of outstanding common stock (no par) of Tristezza Corporation during the current year as a long-term investment. The annual accounting period for both companies ends December 31. The following transactions occurred during the current year: Jan. 10 Purchased 17,875 shares of Tristezza common stock at $16 per share. Dec. 31: a. Received the current year financial statements of Tristezza Corporation that reported net income of $90,000. b. Tristezza Corporation declared and paid a cash dividend of $0.6 per share. c. Determined the market price of Tristezza stock to be $15 per share. value: 10.00 points Required information You did not receive full credit for this question in a previous attempt Required: 2. Prepare the journal entries for each of these transactions. (Round your intermediate percentage answer to 1 decimal place (For example, .129 should be 12.9%). If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3. Show how the long-term investment and the related revenue should be reported on the current year's financial statements (balance sheet and income statement) of the Gioia Company. (Round your intermediate percentage answer to 1 decimal place (For example, 129 should be 12.9%).) GIOIA COMPANY Balance Sheet (partial) At December 31, Current Year Long-term investments: GIOIA COMPANY Income Statement (partial) For the Current Year Ended December 31