o.com/secured lockdown abled: Assignment 2 Johannes Inc. acquired 80 percent of Corner Brook Ltd. common shares on January 14, for $752.000 As that of the non-controlling interest was $188,000. Corner Brook's balance sheet contained the following smounts at the Sine of the the free combination Cann 8.000 Accounts Receivable Inventory 142,000 Accounts Payable Bonds Payable 42,000 Construction Work in Progress 953.000 Common shares 1810 per val setained Earnings Other Assets (net) 453,000 Total Assete $1,656,000 Total Liabilitie uition 540.500 $1.454,500 During each of the next three years, Corner Brook reported net income of $124,000 and paid dividends of $64,000. On January 1 r 6. Johannes sold 9,200 of the Corner Brook shares for $264,000 in cash, Johannes used the equity method in accounting for s ownership of Corner Brook. Required: (a) Compute the balance in the investment account reported by Johannes on January 1, Year 6, before its sale of shares (sign in your response.) Balance prior to sale of shares (b) Prepare the entry recorded by Johannes when it sold the Corner Brook shares. (If no entry is required for a transaction event select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet C Record sale of 9,200 shares by Johannes. 2 W #3 E 4 < Prev 4 of 6 Next > % MacBook Pro A Ba 5 6 7 R T Y 2 G H