Equity Method On January 2, Yorkshire Company acquired 36% of the outstanding stock of Fain Company for $230,000. For the year ended December 31, Fain Company earned income of $60,000 and paid dividends of $18,000. Prepare the entries for Yorkshire Company for the purchase of the stock, the shore of Fain income, and the dividends received from Pain Company Jan. 2 - Purchase Investment in Fain Company Stock Cash Dec. 31-Income Investment in Fain Company Stock Income of Fain Company Dec. 31 - Dividends Cash Investment in Fain Company Stock