Equity Method On January 2, Yorkshire Company acquired 30% of the outstanding stock of rain 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 Investment in Pain Company Stock Income of Fain Company Dec. 31. Dividends Cash Tnvestment in Fain Company Stock