(c) The board of directors of Munchies Corporation is confused about the differences between the financial statement presentation of the fair value through proht or loss model and equity method. Show in tabular form the account balances under each method at December 31, 2022. Fair Value through Profit and Loss Model Equity Model $ $ Investment -Sharp, Dec 31/22 1.394,000 1.394,000 Dividend income Income from associates Unrealized gain on Trading Investments Attempts: 0 of 2 used Submit Answer Save for Later View Policies Show Attempt History Current Attempt in Progress Munchies Corporation acquired 25% of the common shares of Sharp Inc. on January 1, 2022by paying $1,394,000 for 49,200 shares. Both companies are publicly traded companies. Sharp declared and paid a $0.50 per share cash dividend on June 30 and again on December 31, 2022. Sharp reported net income of $656,000 for the year. At December 31, the fair value of the Sharp shares was $29 per share (a) Your answer is correct Prepare the journal entries for Munchies Corporation for 2022 assuming Munchies cannot exercise significant influence over Sharp and decides to hold the shares as a trading investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter for the amounts) Credit Debit to Account Titles and Explanation