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Gator Shoes, Incorporated, manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock during $2024.$

$25$ points

$\backslash$table$[[$eBook$],[$Print$],[$References$]]$

$(1.$ ou skipped this question in the previous attempt.

Gator Shon stock during $2024.$

December $31$ Receives a cash dividend of $$1\mathrm{.}40$ per share.

On Februry of Power Drive Corporation's common stock is $$72$ per share.

On February $1,2025($the following year$),$ Gator Shoes sells $675$ shares of Power Drive Corporation's common stock for $$67$ per share.

Required:

Refiord each of these transactions in $2024,$ including an adjusting entry on December $31$ for the investment's fair value, if appropriate.

Record the sale on February $1,2025.$

Note: If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the purchase of the investment.