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U, Inc. acquired 490,000 shares or 35% of Kenmy Corp's common stock on July 1st,2023 when the stock price was $25. On December 31st, Kerny

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U, Inc. acquired 490,000 shares or 35% of Kenmy Corp's common stock on July 1st,2023 when the stock price was $25. On December 31st, Kerny recorded Net income of $105,000 and had a stock price of $26. What is the journal entry that L should record on December 31st,2023? DR Investment Income \$36,750; CR Equity Investment $36,750 DR Fair Value Adjustment $490,000; CR Unrealized Holding Gain/Loss-Income $490,000 DR Equity Investment \$36,750; CR Investment Income \$36,750 DR Equity Imvestment \$18,375; CR Investment income \$18,375 Clear my selection U, Inc. acquired 490,000 shares or 35% of Kenmy Corp's common stock on July 1st,2023 when the stock price was $25. On December 31st, Kerny recorded Net income of $105,000 and had a stock price of $26. What is the journal entry that L should record on December 31st,2023? DR Investment Income \$36,750; CR Equity Investment $36,750 DR Fair Value Adjustment $490,000; CR Unrealized Holding Gain/Loss-Income $490,000 DR Equity Investment \$36,750; CR Investment Income \$36,750 DR Equity Imvestment \$18,375; CR Investment income \$18,375 Clear my selection

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