TUU Teceiveu par Check my work Selk Steel Co., which began operations in Year 1, had the following transactions and events in its long-term investments. Year 1 Jan. 5 Selk purchased 7e,eee shares (20% of total) of Kildaire's common stock for $2,03e,eee. Oct. 23 Kildaire declared and paid a cash dividend of $3.80 per share. Dec. 31 Kildaire's net income for the year is $1,178, eee and the fair value of its stock at December 31 is $37 per share. Year 2 Oct. 15 Kildaire declared and paid a cash dividend of $3.5e per share. Dec. 31 Kildaire's net income for the year is $1,177, eee and the fair value of its stock at December 31 is $39 per share. Year 3 Jan. 2 Selk sold 3% (equal to 2,100 shares) of its investment in Kildare for $67,700 cash. equired: Prepare journal entries to record these transactions and events for Selk. Assume that Selk has a significant influence over Kild th its 20% share of stock. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and events for Selk. View transaction list View journal entry worksheet Journal entry worksheet Selk sold 3% (equal to 2,100 shares) of its investment in Kildaire for $67,700 cash. Note: Enter debits before credits. Date Credit Debit 67,700 Jan 02 - General Journal Cash Cash Equity method investments Earnings from equity method investments LT Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the year-end adjusting entry for the securities portfolio as of December 31. Note: Enter debits before credits. General Journal Debit Credit Date Dec. 31 Record entry Clear entry View general journal Journal entry worksheet