. . #2. (Fair Value and Equity Method Compared) Blank Co. acquired 25% of the 500,000 shares of outstanding common stock of Overload Inc. on December 31, 2020. On December 31, 2020. The purchase price was $3,600,000. on June 18, 2021, Overload declared and paid $1.20 per share cash dividends. On November 29, 2021. Overload reported net income of $1,200,000 for 2021. At December 31, 2021, the fair value of Overload common stock was $27 per share. INSTRUCTIONS (a) Prepare the journal entries for Blank Co., assuming that Blank cannot exercise significant influence over Overload. On December 31, 2020 Credit Dehit June 18, 2021 Dcbit Credit November 29, 2021 Debit Credit December 31, 2021 Debit Credit (b) Prepare the journal entries for Blank Co. for, assuming that Blank can exercise significant influence over Overload. On December 31, 2020 Dcbit Credit June 18, 2021 Debit Credit November 29 2021 Debit Credit December 31, 2021 Debit Credit