there is Part 1 & Part 2.

part 1

part 2

Required information The following information applies to the questions displayed below Selk Steel Co., which began operations on January 4, 2017, had the following subsequent transactions and events in its long-term investments. 2017 Jan. 5 selk purchased 40,000 shares (20% of total) of Kildaire's comon stock for $1,320,000 Oct. 23 Kildaire declared and paid a cash dividend of $3.30 per share Dec. 31 Kildaire s net income for 2017 is $1,174,000, and the fair value of its stock at December 31 is $34.00 per share 2018 oct. 15 Kildaire declared and paid a cash dividend of $2.70 per share Dec. 31 Kildaire's net income for 2018 is $1,486,000, and the fair value of its stock at December 31 is 36.00 per share 2019 Jan. 2 Selk sold all of its investment in Kildaire for $1,725,000 cash Part 1 Assume that Selk has a significant influence over Kildaire with its 20% share of stock. 1. Prepare journal entries to record these transactions and events for Selk. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Complete this question by entering your answers in the tabs below 2017 2018 Prepare journal entries to record these transactions and events for Selk. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1Jan 05, 2017 Long-term 1,320,000 Cash 1,320,00 2018> 2017 2. Compute the cost per share of Selk's investment in Kildaire common stock as reflected in the investment account on January 1 2019. cost 3. Compute the net increase or decrease in Selk's equity from January 5, 2017, through January 2, 2019, resulting from its investment in Kildaire