Change from the fair value method to the equity method Assume an investor company acquires for $384,000 an 8% investment in the common stock of an investee company on February 15, 2018. The investor determined the common stock of the investee has a readily determinable fair value. On December 31, 2018, the fair value of the 8% common stock investment is $408,000, and the investor company made made all of the appropriate adjustments in preparation of the annual financial statements. On March 1, 2019, the investor company acquires an additional 17% of common stock of the investee for $918,000, thereby increasing the investor's overall ownership interest to 25% Required a. Prepare the journal entries the investor company should record on March 1, 2019. Note: If a journal entry is not required, select "Not applicable" as your answers for the drop-down options and leave the Debit and Credis answers blank (zero) Description Debit Credi To the pacha adal For this question only assume instead that the investor determined, on February 15, 2018, that the common stock of the investee does not have a readily determinable fair value in addition, the investor company determined that the additional 17% common stock purchase on March 1, 2019 does quality as an observable price change in orderly transaction Prepare the journal entries the investor company, should record on March 1, 2019 Note: If a journal entry is not required, select Not applicable in your answers for the drop-down options and leave the Debit and Crede answers blank prera Description Dubit Credi