Culver Inc. acquired 20% of the outstanding common shares of Gregson Inc. on December 31, 2019. The purchase price was $1,183,600 for 53,800 shares, and is equal to 20% of Gregson's carrying amount. Gregson declared and paid a $0.85 per share cash dividend on June 15 and again on December 15, 2020. Gregson reported net income of $481,000 for 2020. The fair value of Gregson's shares was $25 per share at December 31, 2020. Culver is a public company and applies IFRS. Prepare the journal entries for Culver for 2019 and 2020, assuming that Culver cannot exercise significant influence over Gregson. The investment is accounted for using the FV-OCI model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 FV-OCI Investments 1183600 Cash 1183600 Jun. 15, 2020 Cash Dividend Revenue Dec. 15, 2020 Cash Dividend Revenue Dec. 31, 2020 FV-OCI Investments 53800 Unrealized Gain or Loss 53800 Prepare the journal entries for Culver for 2019 and 2020, assuming that Culver can exercise significant influence over Gregson. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Investment in Associate 1183600 Cash 1183600 Jun. 15, 2020 Cash Investment in Associate Dec. 15, 2020 Cash Investment in Associate Dec. 31, 2020 Investment in Associate Investment Income or Los (To record investment income) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT What amount is reported for the investment in Gregson shares on the December 31, 2020 statement of financial position under each of these methods in Fair Value Method and Equity Method? Fair Value Method Equity Method Investments What amount is reported on Culver's statement of comprehensive income in 2020 under each of these methods, and where are the amounts reported? Culver Inc. Statement of Comprehensive Income For the Year Ended December 31, 2020 Fair Value Method Equity Method Dividend Revenue Investment Income Included in Net Income Other comprehensive income: | Unrealized Gain on FV-OCI Investment During the Year Effect on comprehensive income for 2020