Equity Method On January 2, Yorkshire Company acquired 29% of the outstanding stock of Fain Company for $290,000. For the year ended December 31, Fain Company earned income of $75,000 and paid dividends of $23,000. Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company Jan. 2 - Purchase Investment in Fain Company Stock Cash Dec. 31 - Income Income of Fain Company Cash Dec. 31 - Dividends Cash Dividends Cash