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Problem 16-3A (Part Level Submission) On December 31, 2017, Turmball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the Shares Cost Gehring Co. Wooderson Co. Kitselton Co. 2,160 4,920 1,640 $69,120 44,280 On December 31, 2017, the total fair value of the securities was equal to its cost. In 2018, the following transactions occurred Aug. 1 Received SOSO per share ca dividend on Gehring co. common stock. Sept. 1 Sold 1,476 shares of Wooderson Co. common stock for cash at $8 per share. Oct. 1 Sold 864 shares of Gehring Co. common stock for cash at $35 per share. Nov. 1 Received $2 per share cash dividend on Kitselton Co. common stock Dec. 15 Received $0.50 per share cash dividend on Gehring Co. common stock Dec. 31 Recelved $2 per share annual cash dividend on Wooderson Co. common stock. At December 31, the fair values per share of the common stocks were: Gehring Co. $34, Wooderson Co. $8, and Kitselton Co. $20. y (a) Your answer is correct. and post to the account Stock Investments. (Use the T-account form.) (Credlit account tities are amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts. Recond journal entries in the order

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