Required information

Use the following information for the Problems below. $($Algo$)$

$[$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 $$1,000,000.$

October $23$ Kildaire declared and paid a cash dividend of $$2\mathrm{.}30$ per share.

December $31$ Kildaire's net income for the year is $$1,191,000,$ and the fair value of its stock at December $31$

is $$25$ per share.

Year $2$

October $15$ Kildaire declared and paid a cash dividend of $$2\mathrm{.}90$ per share.

December $31$ Kildaire's net income for the year is $$1,163,000,$ and the fair value of its stock at December $31$

is $$29$ per share.

Year $3$

January $2$ Selk sold $2\%($equal to $1,000$ shares$)$ of its investment in Kildaire for $$50,200$ cash.Required information

Use the following information for the Problems below. $($Algo$)$

$[$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 $$1,000,000.$

October $23$ Kildaire declared and paid a cash dividend of $$2\mathrm{.}30$ per share.

December $31$ Kildaire's net income for the year is $$1,191,000,$ and the fair value of its stock at December $31$

is $$25$ per share.

Year $2$

October $15$ Kildaire declared and paid a cash dividend of $$2\mathrm{.}90$ per share.

December $31$ Kildaire's net income for the year is $$1,163,000,$ and the fair value of its stock at December $31$

is $$29$ per share.

Year $3$

January $2$ Selk sold $2\%($equal to $1,000$ shares$)$ of its investment in Kildaire for $$50,200$ cash.