eBook 3 Show Me How Calculator Print item Equity Method On January 2, Yorkshire Company acquired 40% of the outstanding stock of Fain Company for $300,000. For the year ended December 31, Fan Company camned in of $78,000 and paid dividends of $24,000 Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fan Company Jan. 2 - Purchase Dec. 31 - Income Dec. 31 - Dividends