2000 ygoto Equity method journal entries with intercompany sales of inventory An investor owns 25% of an investee, and accounts for its investment using the equity method. Ae beginning of the year, the fiquity Investment was reported on the investor's balance sheet at $800,000. During the year, the investee reported net income of $320,000 and paid dividends of 5000 in addition, the investor sold inventory to the investee, realizing a gross profit of $96,000 on the sale. At the end of the year. 30% of the inventory remained unsold by the investee Provide the equity method journal entries required for the year Debit Credit What is the balance of the Equity investment at the end of the year? 50 c. Assume that the inventories are all sold in the following year, that the investee reports $360.00 net income. How much equity income will the investor report for the following year? 80 Please answer all parts of the question