BSE 3120 Intermediate Accounting II Group Homework Problem On January 1, 2020, Graham Corporation purchased 20% (5,000 shares) of the outstanding stock of Conor Corporation for $100,000. At the end of 2020, Conor Corporation's stock had a fair market value of $24 per share and at the end of 2021, the stock had a fair market value of $22 per share. During 2021, Conor Corporation paid dividends of $3.00 per share and earned $60,000 in net income. a. Prepare the journal entries that Graham would make during 2021 assuming that they do NOT have significant influence over Conor as a result of their stock ownership (i.e. fair value method). b. Prepare the journal entries that Graham would make during 2021 assuming that they do have significant influence over Conor as a result of their stock ownership (i.e. equity method)