Homework: Unit 4 Assignment 2 Save Score: 0 of 12 pts 3 of 3 (2 complete) HW Score: 35.5%, 12.78 of 36 pts E15-15 (book/static) Tutoring Question Help Suppose that on January 6, 2018, East Coast Motors paid $280,000,000 for its 38% investment in Boxcar Motors. East Coast has signincant influence ovet Boxcar after the purchase Assume Boxcareamed net income of $90,000,000 and paid cash divideuds of $45,000,000 to all outstanding stockholders during 2018. (Assume ait outstanding stock is voting stock) Read the requirements Requirement 1. What method should East Coast Motors use to account for the investment in Boxcar Motors? Give your reasoning East Coast Motors should use the method to account for its investment in Boxcar Motors because the investment (A Requirements ho as US 1. What method should East Coast Motors use to account for the investment in Boxcar Motors? Give your reasoning 2. Journalize all required 2018 transactions related to East Coast Motors's Boxcar investment Include an explanation for each entry. 3. Post all 2018 transactions to the investment T-account. What is its balance after all the transactions are posted? How would this balance be classified on the balance sheet dated December 31, 2018? Print Done