Assessing Financial Statement Effects of Passive and Equity Method Investments (FSET) On January 1, Ball Corporation purchased, as a stock investment, 5,000 shares of Leftwich Company common stock for $15 cash per share. On December 31 , Leftwich announced net income of $40,000 for the year and paid a cash dividend of $1.10 per share. At December 31 , the market value of Leftwich's stock was $19 per share. a. Assume that the stock acquired by Ball represents 15% of Leftwich's voting stock-a passive equity investment. Record each of the following transactions in the financial statement effects template. (1) Ball purchased 5,000 common shares of Leftwich at $15 cash per share; the shares represent a 15\% ownership in Leftwich. (2) Leftwich reported annual net income of $40,000. (3) Received a cash dividend of $1.10 per common share from Leftwich. (4) Year-end market price of Leftwich common stock is $19 per share. - Note: Use negative signs with your answers, when appropriate. - Note: Select "N/A" as your answer if a part of the accounting equation is not affected