On January 2, 20X0. Cristol Corporation acquired 95 percent of the common stock of Glenco Inc. in a business combination treated as a pooling of interests. At the date of combination, Glenco had common stock outstanding with a total par value of \(\$ 400,000\), additional paid-in capital of \(\$ 500,000\), and retained earnings of \(\$ 140,000\). Cristol issued 82,000 shares of its \(\$ 5\) par common stock in the combination; the stock had a total market value of \(\$ 1,200,000\) at the date of combination. All the excess of the fair value of the stock issued over the book value of the shares acquired was attributable to goodwill.

Glenco continued operating as a separate corporation subsequent to the combination. During 20X0, Glenco reported net income of \(\$ 68,000\) and paid dividends of \(\$ 20,000\).

\section*{Required}

Present all journal entries that would appear on the books of Cristol Corporation during 20X0 with respect to its investment in Glenco, assuming Cristol accounts for its investment in Glenco using

(a) the equity method and

(b) the cost method.