Captain Investments completed the following investment transactions during 2018: Jan. 14 Purchased 200 shares of Velcon stock,

Question:

Captain Investments completed the following investment transactions during 2018:
Jan. 14 Purchased 200 shares of Velcon stock, paying $53 per share. The investment represents 4% ownership in Velcon's voting stock. Captain does not have significant influence over Velcon. Captain intends to hold the investment for the indefinite future. Aug. 22 Received a cash of $0.28 per share on the Velcon stock.
Dec. 31 Adjusted the Velcon investment to its current market value of $58.
Requirements
1. Journalize the entries for 2018. Explanations are not required.
2. What account(s) and amount(s), if any, would be reported on Captain's income statement for the year ended December 31, 2018?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...