Eileen, Inc., purchased $10$ percent of Bravo Corporation on January $1,2023,$ for $$345,000$ and accounted for the investment using the fair$-$value method. Eileen acquires an additional $15$ percent of Bravo on January $1,2024,$ for $$585,000.$ The equity method of accounting is no appropriate for this investment. No intra$-$entity sales have occurred.

a$.$ How does Eileen determine the income to be reported in $2023$ in connection with its ownership of Bravo?

b$.$ What factors should have influenced Eileen in its decision to apply the equity method in $2024?$

c$.$ What factors could have prevented Eileen from adopting the equity method after this second purchase?

d$.$ What is the objective of the equity method of accounting?

e$.$ What criticisms have been leveled at the equity method?