View History Bookkmarks People Window Help ACCT Capter Renew 15-16 eara c x Deartianhiasan Powe pon xYntat eof R5C Calertar List View , L Help ew 15-16 (Extra Credit) 0 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 ong-term Investments 2017 Jan. S Selk purchased 50.000 shares (25% of total, od Kildaire's cane stock for si,100,000. et. 23ildaire declared and paid a cash dividend of $6.00 per sbare. Dec. 31 84ldaire's net incone for 2017 in $1,334,000, and the fair value of its stook at December 31is 31-70 per share. 2018 Oet. 15 K4ldaire deelared and paid a eash dividend of $3.80 por share. Dee. 31 Kiidaire's net income for 2018 $1,646,000, and the fair value of ita stoek at December 31 ia 33.70 per share. 2019 Jan. 2 Selk sold .11 of ita ineattent n Kildaire for $1,525,000 eaah. Part 1 Assume that Selk has a significant influence over Kildaire with its 25% share of stock. Required: 1. Prepare jourmal entries to record these transactions and events for Selk. (0f no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Prev56 of 7Next > pter Review 15-16(Eta Credit) Halp Sav 5 2. Compute the carrying (book) value per share of Selk's Investment in Kildaire common stock as reflected in the Investment accout on January t 2019. Round your answer to 1 decimal place.) 3. Compute the net increase or decrease in Selik's equity from January 5, 2017,through January 2, 2019, resulting from its investment n Kildaire. FS Te