Year 1 January 5 Selk purchased 65,080 shares (20x of tota1) of Kildaire's common stock for $1,885,680. October 23 Kildaire declared and paid a cash dividend of $4.80 per share. December 31 Kildaire's net Incone for 'the year is $1,198,680, and the fair value of its stock at december 31 is $33 per share. Year 2 October 15 Kildaire declared and paid a cash dividend of $3.60 per share. Decenber 31 Kildaire's net incore for the year is $1,173,686, and the fair value of its stock at December 31 is $35 per share. Year 3 January 2 selk sold 26 (ecual to 1,390 shares) of its investrent in Kildaire folis48,680 cash. Problem 15.6A (Algo) Accounting for long-term Investments In stock without significant Influence Lo p4 Assume that although Selk owns 20% of Kildalre's outstanding stock, clrcumstances indicate that it does nothave a significant influence over the investee. Prepare Journal entrles to record the preceding transactiona and evente for Selk. Required: Complete this question by entering your answers in the tabs below