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Journal Entries without Significant Influence Recording Entries for Equity Investment: FV-NI and Equity Method Towne Corporation reported net income of $24,000 and declared and paid dividends of $8,000. As of December 31 , common shares of Towne Corporation were trading at $20 per share. c. Indicate the amount of income that would be reported on the income statement and the investment balance on the year-end balance sheet under requirement (a) and requirement (b). Marks for this submission: 0.35/1.00. Recording Entries for Equity Investment: FV-NI and Equity Method year, Towne Corporation reported net income of $24,000 and declared and paid dividends of $8,000. As of December 31 , common shares of Towne Corporation were trading at $20 per share. Journal Entries with Significant Influence