10e On July 1. 2018, Clearwater Inc purchased 5,750 shares of the outstanding common stock of Mountain Corporation at a cost of $157,500 had 23,000 shares of outstanding stock. The total book value and total fair value of Mountain's individual The total fair value of the 23.000 shares of 2018, is $725.000. Both companies have a January through December fiscal year. The following data pertains to Mountain Dividends declared and paid, Jul. 1-Dec. 31 $11,300 $13,300 $17,300 Net income, January 1-June 30 1. Prepare the necessary entries for 2018 under the equity method 2. Prepare any necessary entries for 2018 (other than for the purchasej that would be required if the securities were accounted for under the fair value through net income method field.) Journal entry worksheet