Gant Company purchased 20 percent of the outstanding shares of Temp Company for $76,000 on January 1, 20X6. The following results are reported for Temp Company:

	20X6			20X7			20X8
Net income	$	41,000		$	36,000		$	54,000
Dividends paid		13,000			28,000			18,000
Fair value of shares held by Gant:
January 1		76,000			95,000			92,000
December 31		95,000			92,000			103,000

Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gants investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp:

1. Carries the investment at fair value.
2. Uses the equity method.

Required A Required B 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 fair value option in accounting for its investment in Temp. 20X6 20X7 20X8 Income from investment Balance in investment Required A Required B 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 equity method in accounting for its investment in Temp. 20X6 20X7 20X8 Income from investment Balance in investment