Question: #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,

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\#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. CHAPTER 17 - INVESTMENT - ASSIGNMENT - DUE on Oct 5, 2023@11:59 PM INSTRUCTIONS (a) Prepare the journal entries for Blank Co., assuming that Blank cannot exercise significant influence over Overload. (b) Prepare the journal entries for Blank Co. for, assuming that Blank can exercise significant influence over Overload

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