NEXT Exercise 22-23 Your answer is partially correct. Try again. Dan Aykroyd Corp, following entries. was a 30% owner of Steve Martin Company, holding 210,000 shares of Martin's common stock o 2016. The investment account had the December 31, Investment in Martin 1/1/15 Cost 12/31/15 Share of income 12/31/16 Share of income 10,000 On January 2, 2017, Aykroyd sold 126,000 shares of Martin for $3,440,000, thereb 3,80,000 12/6/15 Dividend received $150,000 390,000 12/5/16 Dividend received 240,000 results of operations and paid the following dividends to Aykroyod y losing its significant influence. During the year 2017, Martin experienced the following Martin Income (Loss) Dividends Paid to Aykroyd 2017 300,000 50,400 At December 31, 2017, the fair value of Martin shares heid by Aykroyd is s1,570.000 This is the first reporting date since the January 2 sale. (b) Compute the carrying amount of the investment in Martin as of December 31, 2017 (prior to any fair value adjustment) Carrying amount 1476000 (c) Prepare the adjusting entry on December 31, 2017, applying the fair value method to Aykroyd's lang-term investment in Martin titles are automatically indented when 0 for the amounts.) amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Company securities. (Credit account