8. EX.15-11.ALGO (Algorithmic) Equity Method for Stock Investment On January 4, Year 1, Ferguson Company purchased 50,000 shares of Siva Company directly from one of the founders for a price of $54 per share. Slva 200,000 shares outstanding, including the Daniels shares. On July 2, Year 1, Silva paid $123,000 in total dividends to its shareholders 1, Silva reported a net income of $467,000 for the year. Ferguson uses the equity method in accounting for its investment a. Provide the Ferguson Company journal entries for the transactions involving its investment in Silva Company during Year Year 1 Jan. 4 Year 1 July 2 Year 1 Dec, 31 b. Determine the December 31, Year 1, balance of Investment in Silva Company Stock