B. Record the transactions using equity method on the dates indicated below. Assume the share rights are not accounted for separately and that significant influence is not lost as a result of the sale on Sept. 30, 2020. B1. July 1, 2019 B9. Sept. 30, 2020 (To record the sale) B2, Dec. 1, 2019 B10. Oct. 31, 2020 B3. Dec. 31, 2019 (To record share in net income) B11. Dec. 31, 2020 (To record share in net income) B4. Dec. 31, 2019 (To record amortization of B12. Dec. 31, 2020 (To record amortization of excess amount) excess of cost) B5. Aug. 1, 2020 B13. How much is the balance of "Investment in B6, Sept. 15, 2020 Associate" on Dec. 31, 2020? B7. Sept. 30, 2020 (To update share in net income) B14. How much is the balance of Shareholders' B8. Sept. 30, 2020 (To update amortization of Equity on Dec. 31, 2020? excess of cost) Chart of Accounts: A Cash Dividends Receivable D Investment Income C Investment in Associate E Gain on Sale of Investment"There are days when nothing goes right.. when you stumble and fall... when you just want to cry. To cry a lot, to sleep a lot, or even eat a lot. It's alright, as long as you pick yourself up again." -Yuki Takeya (School-Live!) QUIZ-INVESTMENT IN EQUITY SECURITIES On July 1, 2019, Investor Corp. acquired 8,000 shares of the outstanding, 40,000, P100 par, ordinary shares of Investee Corp. for P1,400,000. The net assets of Investee Corp. on this date are valued at P6,000,000. The excess of cost over book value is due to undervalued machinery with a remaining life of 5 years. Net Income of P1,500,000 which was earned evenly throughout the year was reported by Investee Corp. for 2019. No dividends were declared by Investee Corp. for 2019. Instead, special assessments of P5 per share were charged on the shareholders on December 1, 2019. On January 15, 2020, Investee Corp. declared a 5% stock dividend to be distributed on March 5, 2020 to shareholders of record on February 25, 2020. On May 10, 2020, Investee Corp. approved issuance of stock rights to shareholders of record on June 20, 2020. On June 20, 2020, the market value per right was P10 and the market value per share ex-right was P190. Four rights will allow the purchase of one share at par value. The rights will expire on August 31, 2020. All of the rights were exercised by Investor Corp. on August 1, 2020. On September 15, 2020, Investee Corp. declared cash dividends of P8 per share payable on October 31, 2020 to shareholders of record at the close of the business on September 30, 2020. On September 30, 2020, Investor sold 1,050 shares for P220,500. For 2020, Investee Corp. reported net income of P2, 100,000