BE 21-11 "Simmons Corporation owns stock of Armstrong, Inc. Prior to 2025, the investment was accounted for using the equity method. In early 2025, Simmons sold part of its investment in Armstrong, and began using the fair value method. In 2025, Armstrong earned net income of $80,000 and paid dividends of $95,000. Prepare Simmonss entries related to Armstrongs net income and dividends, assuming Simmons now owns 10% of Armstrongs stock.

*BE21.12 (LO 5) Oliver Corporation has owned stock of Conrad Corporation since 2022. At December 31, 2025, its balances related to this investment were: Equity Investments $185,000 Fair Value Adjustment 34,000 Dr. On January 1, 2026, Oliver purchased additional stock of Conrad Company for $475,000 and now has significant influence over Conrad. Prepare Olivers journal entries to record the purchase of the investment and the change to the equity method."