EXERCISE +1 Parent Company Entries, Liquidating Dividend 102 Percy Company purchased 80% of the outstanding voting shares of Song Company at the be- ginning of 2009 for $387,000. At the time of purchase, Song Company's total stockholders' cquity amounted to $475,000. Income and dividend distributions for Song Company from 2009 through 2011 are as follows: 2009 2010 2011 Net income (loss) $63,500 $52,500 ($55,000) Dividend distribution 25,000 50,000 35,000 Required: record entries in P books using: 1- Cost method 2- Partial equity method 3- Complete equity method. There is positive difference 7000 attributed to assets with 5 years reaming life