(c) Your answer is partially correct. Try again. Percy Company uses the complete equity method to record its investment. The difference between book value of equity acquired and the value implied by the purchase price was attributed solely to an excess of market over book values of depreciable assets, with a remaining life of 10 years. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2014 Investment in Subsidiary 377100 Cash 377100 (To record the investment in Song Company) Investment in Subsidiary 49280 Equity Income 49280 (To record equity income (loss)) X Cash 20000 Investment in Subsidial 20000 (To record amortization x Equity Income 990 Investment in Subsidial 990 To record dividend income) 2015 Investment in Subsidiary 42480 Equity Income 42480 (To record equity income (loss)) Cash 41120 Investment in Subsidia 41120 To record amortization) Equity Income 990 Investment in Subsidial 990 (To record dividend income) 2016 Equity Loss 44800 Investment in Subsidial 44800 (To record equity income (loss)) Cash 29360 Investment in Subsidial 29360 (To record amortization) x Equity Income 990 Investment in Subsidial 990 To record dividend incomeExercise 4-1 Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2014 for $377,100. At the time of purchase, Song Company's total stockholders' equity amounted to $459,000. Income and dividend distributions for Song Company from 2014 through 2016 are as follows: 2014 2015 2016 Net Income (loss) $61,600 $53,10 Dividend distribution 25,000 51,400 36,700 Prepare journal entries on the books of Percy Company from the date of purchase through 2016 to account for its investment in Song Company under each of the following assumptions