Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.) Selk Steel Co., which began operations in Year 1. had the following transactions and events in its long-term investments Year 1 Jan. 5 Selk purchased 50,000 shares (20% of total) of Kildaire's common stock for $1,100,000 Oct. 23 Kildaire declared and paid a cash dividend of $2.10 per share. Dec. 31 Kildsire's net income for the year is $1,112,000 and the fair value of its stock at December 31 is $26 per share. Year 2 Oct. 15 kildaire declared and paid a cash dividend of $2.90 per share, Dec. 31 Kildaire's net income for the year is $1,106,000 and the fair value of its stock at December 31 s $29 per share. Year 3 Jan. 2 Selk sold 3% (equal to 1,500 shares) of its investment in tildelre for $68,90 cash Problem 15-5A Accounting for long-term investments in stock with significant influence LO P5 Required: 1. Prepare Journal entries to record these transactions and events for Selk. Assume that Selk has a significant influence over Kildare with its 20% share of stock Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and events for Selk. View transaction list Journal entry worksheet Kildaire declared and paid a cash dividend of $2.90 per share. Note: Enter debits before credits Date General Journal Debit Oct 15 Credit Recordantis Giocontro Winw.cncrational Journal entry worksheet