6. When an investor company buys and owns well more than 50% voting stock of an investee company, the investor company, usually, meets the conceptual test to use the method of consolidation of financials. a) True b) False 7. When equity method is used the investor company's percentage share of the investee company's net income or net loss is recognized. a) True b) False 8. Large Company bought 25% of voting stock of Tiny Company for $100,000 cash on January 01, 2017, and met the criterion or criteria to use equity method. For 2017, Tiny Company reported $20,000 net income and paid $1,000 cash dividend on December 31, 2017 Prepare a journal entry or entries on the following dates showing computations in short form