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IThe following information applies to the questions displayed below. Selk Steel Co., which began operations...

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Accounting

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IThe following information applies to the questions displayed below. Selk Steel Co., which began operations on January 4, 2013, had the following subsequent transactlons and events in ts long-term Investments. 2013 Jan. 5 Selk purchased 50,000 shares (25% of total) of KIldalre's common stock for $1,550,000. Oct. 23 Kildalre declared and pald a cash dlvldend of $5.10 per share. Dec. 31 Kildalre's net Income for 2013 ls $1,354,000, and the falr value of its stock at December 31 Is $31.90 per share. 2014 Oct. 15 Kildalre declared and pald a cash dlvldend of $4.00 per share. Dec. 31 Kildalre's net Income for 2014 ls $1,666,000, and the falr value of its stock at December 31 s $33.90 per share. 2015 Jan. 2 Selk sold all of Its Investment In Klldalre for $2,015,000 cash

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