ASAP - PLEASE ANSWER THE QUESTIONS IN EXCEL AND WITH DETAILED EXPLANATIONS

Big Company owns 40% of the 100,000 outstanding shares of Small Company and applies the equity method. The investment was originally acquired for $150,000 but the balance in the Investment account as of 1/1/14 is $200,000. On 4/1/14, Big Company sells 10,000 shares (one-fourth of its investment) for $75,000. Small Companys first quarter net income is $20,000 and cash dividends are $5,000. The entry to record the sale of the 10,000 shares is as follows:

Answer: