Question: I just need help on this last entry I cannot get the numbers right thank you! ! Required information [The following information applies to the

 I just need help on this last entry I cannot get

the numbers right thank you! ! Required information [The following information applies

I just need help on this last entry I cannot get the numbers right thank you!

! Required information [The following information applies to the questions displayed below.] Selk Steel Company, which began operations in Year 1, had the following transactions and events in its long-term investments. Year 1 January 5 Selk purchased 50,000 shares (20% of total) of Kildaire's common stock for $1,600,000. October 23 Kildaire declared and paid a cash dividend of $2.10 per share. December 31 Kildaire's net income for the year is $1,133,000, and the fair value of its stock at December 31 is $39 per share. Year 2 October 15 Kildaire declared and paid a cash dividend of $3.10 per share. December 31 Kildaire's net income for the year is $1,138,000, and the fair value of its stock at December 31 is $42 per share. Year 3 January 2 Selk sold 3% (equal to 1,500 shares) of its investment in Kildaire for $56,300 cash. Required: Prepare journal entries to record these transactions and events for Selk. Assume that Selk has a significant influence over Kildaire with its 20% share of stock. Complete this question by entering your answers in the tabs below. Journal entry worksheet 1 > Selk sold 3% (equal to 1,500 shares) of its investment in Kildaire for $56,300 cash. Note: Enter debits before credits. Credit Date January 02 Debit 56,300 General Journal Cash Gain on sale of stock investments Equity method investments Record entry Clear entry View general Journal

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