Directions Determine how much to invest in this new online candy company. Since this is a fictional company, there are no 10-K reports available. Therefore, you will have to decide on a fictional amount to invest. Use the accounting methods and principles from the Financial Accounting Standards Board (FASB) Accounting Standards Codification and Generally Accepted Accounting Principles (GAAP), apply the correct method to the given acquisition and to summarize basic journal entries based on the amount invested. Rationale 1. Explain the rationale for the accounting method that would be used to consolidate if you decided to acquire 20% or less 2. Explain the rationale for the accounting method that would be used to consolidate if you decided to acquire between 20% and 50% of 3. Explain the rationale for the accounting method that would be used to consolidate if you decided to acquire more than 50% of the company. Directions Determine how much to invest in this new online candy company. Since this is a fictional company, there are no 10-K reports available. Therefore, you will have to decide on a fictional amount to invest. Use the accounting methods and principles from the Financial Accounting Standards Board (FASB) Accounting Standards Codification and Generally Accepted Accounting Principles (GAAP), apply the correct method to the given acquisition and to summarize basic journal entries based on the amount invested. Rationale 1. Explain the rationale for the accounting method that would be used to consolidate if you decided to acquire 20% or less 2. Explain the rationale for the accounting method that would be used to consolidate if you decided to acquire between 20% and 50% of 3. Explain the rationale for the accounting method that would be used to consolidate if you decided to acquire more than 50% of the company