Equity Method for Stock Investment On January 4, 20Y6, Spandella Company purchased 112,000 shares of Filington Company directly from one of the founders for a price of $46 per share. Filington has 400,000 shares outstanding, including the Spandella shares. On July 2, 20Y6, Filington paid $302,000 in total dividends to its shareholders. On December 31, 20Y6, Filington reported a net income of $1,046,000 for the year. Spandella uses the equity method in accounting for its investment in Filington a Journalize the Spandella Inc. entries for the transactions involving its investment in Filington Company during 20Y6 20Y6 Jan. 4 20Y6 July 2 20Y6 Dec. 31 b. Determine the December 31, 20Y6, balance of the investment in Filington Company stock account