content area top Part 1 Sandford Corp. has a new accounting co-op student who heard that the accounting for equity investments changes with the amount of shares held. The student needs to know the accounting differences between two different scenarios and how Sandford Corp. should record the transaction and balances if it owns different amounts of Harold Ltd. shares as a long-term investment. Harold Ltd. has a total of 55 comma 000 shares outstanding. Option A is to purchase 7 comma 700 shares. Option B is to purchase 16 comma 500 shares. Answer the following for each option. Which accounting method should be used for this long-term investment? Journal entry to record purchase of shares at $44 each. Ignore brokerage commissions. Journal entry to recognize share of $48 comma 000 in dividends declared and paid. Journal entry to recognize $105 comma 000 in net income declared by Harold Ltd. Journal entry to recognize the year-end market value of $43 per share. What is the balance in the investments account at year-end