#14 smith Company obtained 100 percent of Wesson Company's common stock on January 1, 20x6 $18 on that date. 5,000 shares of its $1 par common stock. Smith's common stock had a fair value of on the date of acquisition, Wesson reported a net book value of $210,000. Some of Wesson's plant assets (with a 5-year remaining life) were undervalued by $30,000 in the company's accounting records. Wesson also holds an intangible asset with an estimated fair value of $20,000 over carrying amount. The intangible asset has an estimated remaining useful life of 10 years. Smith Company uses the equity-method to account for its investment in Wess During 20X6 Smith and Wesson reported the folowing Net Income Dividends Declared Smith Wesson $500,000 $280,000 125,000 80,000 Prepare all of the journal entries recorded by Smith in 20X6 related to its investment in Wesson