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Peanut Company acquired 90 percent of Snoopy Companys outstanding common stock for $270,000 on January 1, 20X8, when the book value of Snoopys net assets was equal to $300,000. Peanut uses the equity method to account for investments. The following trial balance summarizes the financial position and operations for Peanut and Snoopy as of December 31, 20X9:

Peanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $270,000 on January 1,208, when the book value of Snoopy's net assets was equal to $300,000. Peanut uses the equity method to account for investments. The following trial balance summarizes the financial position and operations for Peanut and Snoopy as of December 31, 209: Required: a. Prepare any equity method journal entry(ies) related to the investment in Snoopy Company during 20X9. (If no entry is required for Prepare any equity method journal entry(ies) related to the investment in Snoopy Company during 20X9. (If no entry is required for transaction/event, select "No journal entry required" in the first account field.) PEANUT COMPANY AND SUBSIDIARY Consolidated Financial Statement Worksheet January 1, 20X9