Equity Method On January 2, Yorkshire Company acquired 31% of the outstanding stock of Fain Company for $370,000. For the year ended December 31, Fain earned income of $96,000 and paid dividends of $30,000. Journalize 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 Dec. 31 - Income. Dec. 31-Dividends 0 0