4. Jamieson owns a 30% investment in Russell Co. and has significant influence over the business of Russell. Prepare the necessary journal entries assuming the equity method of accounting is used. a. Assume that Russell earns net income of $ 400,000. Record the amount of income recognized by Jamieson. b. Assume that Russell pays a dividend to it shareholders of $ 240,000. Prepare Jamieson's necessary journal entry. 4. Jamieson owns a 30% investment in Russell Co. and has significant influence over the business of Russell. Prepare the necessary journal entries assuming the equity method of accounting is used. a. Assume that Russell earns net income of $ 400,000. Record the amount of income recognized by Jamieson. b. Assume that Russell pays a dividend to it shareholders of $ 240,000. Prepare Jamieson's necessary journal entry.