Accounted for under the cost method of accounting equity method of accounting If cost method trading available for sale. Justify your response. Scenario XYZ Compay purchased 60,000 shares of 123 Company common stock 123 Company has a total of 150,000 shares outstanding, XYZ intends to keep the shares rather than sell them. Accounted for under the cost method of accounting equity method of accounting If cost method trading available for sale. Justify your response. Scenario Independent Wholesale purcahse 30,000 shares of common stock from ArcPoint Liquidator. ArcPoint has 300,000 shares outstanding. Independent plans to hold those shares as a long-term investment. Question 3 2 pts . Accounted for under the cost method of accounting equity method of accounting If cost method .trading .available for sale Justify your response Scenario Walter Company has 7,000 shares of the 14,000 shares of Communications Inc's nonvoting preferred stock. Walter is planning to hold the investment long term. Accounted for under the cost method of accounting equity method of accounting . If cost method trading available for sale. Justify your response. Scenario Biggie RV sells recreational vehicles. It also provides insurance on those vehicles through Biggie Insurance Company, a whole owned subsidiary. Accounted for under the cost method of accounting equity method of accounting If cost method trading available for sale. Justify your response. Scenario Raider Company has purchased 21,000 shares of Oakland Company's common stock with the intent to obtain board representation at the next shareholders meeting. If this representation fails, Raider Company plans to sell the shares of Oakland Company