Fill in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.

Exercise 121 Your answer is partially correct. Try again. Fill in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter o for amounts.) (a) Fair Value Method Investment Dividend Account Revenue (b) Equity Method Investment Investment Account Revenue Transaction 1. At the beginning of Year 1, Crane bought 25% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $900,000 on this date. 225000 | 225000 2. During Year 1, Hudson reported $66,000 of net income and paid $33,000 of dividends. 16500 16500 -8250 3. During Year 2, Hudson reported $30,000 of net income and paid $19,500 of dividends. 7500 7500 -4875 4. During Year 3, Hudson reported a net loss of $11,000 and paid $3,600 of dividends. -2750 -2750 P L -900 232225 5. Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue. 225000 1 1 21250 Click if you would like to Show Work for this question: Open blank Show Work Copy Show Work from Previous attempt