E8-15A. (Learning Objective 3: Account for transactions using the equity method) McCloud Corporation owns equity-method investments in several companies. Suppose McCloud paid $1,675,000 to acquire a 45% investment in Trumpp Software Company. Trumpp Software reported net income of $660,000 for the first year and declared and paid cash dividends of $460,000 Requirements 1. Record the following in McCloud's journal: (a) purchase of the investment, (b) McCloud's proportion of Trumpp Software's net income, and (c) receipt of the cash dividends. 2. What is the ending balance in McCloud's investment account