Instructions On January 4, Year 1. Ferguson Company purchased 480,000 shares of Silva Company directly from one of the founders for a price of 530 per share Siva has 1.200.000 shares outstanding, including the Danies shares. On July 2. Year 1, Silva paid $750,000 in total dividends to its shareholders. On December 31, Year 1. Silva reported a net income of $2,000,000 for the year. Ferguson uses the equity method in accounting for its investment in Silva Required: A Provide the Ferguson Company journal entries for the transactions involving its investere in Sive Company do wt. Peter to the Chart of Accounts for exact wording of accounts B. Determine the December 31 Yeart balance of the investment in Sive Company stock account