Gant Company purchased 20 percent of the outstanding shares of Temp Company for $70,000 on January 1, 20X6. The following results are reported for Temp Company Net income Dividends paid Fair value of shares held by Gant: January 1 December 31 2X5 Se ves 15% 20 SOLO 30.000 2x sbage 20 let 90DN 90 8 86. o 85,00 2100 Required: Determine the amounts reported by Gant as income from its investment in temp for each year and the balance in Gant's Investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment Temp ces a Carties the nvestment at fair value b. Uses the equity method Complete this question by entering your answers in the tabs below. Required nas Recared B Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance Gants investment in Temp at the end of each year assuming that Gant uses the equity methodh accounting for investment in Temp 20x8 20x7 20x8 Income from investment Balance in investment NE