Equity Method On January 2, Yorkshire Company acquired 37% of the outstanding stock of Fain Company for $300,000. For the year ended December 31, Fain Company earned income of $78,000 and paid dividends of $24,000. Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Foin Company Jan, 2.Purchase Dec 31 - Income II Dec 31 - Dividends