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Jones, Inc. uses the equity method of accounting for its investment in a 40%-owned investee that earned $20,000 and paid $5,000 in dividends made the

Jones, Inc. uses the equity method of accounting for its investment in a 40%-owned investee that earned $20,000 and paid $5,000 in dividends made the following entries:

Equity Investment $8,000

Investment Income $8,000

Cash $2,000

Dividend revenue $2,000

Assuming that Jones, Inc. had done each of the following in preparation of its 2020 statements, and no adjustments were made, what would be the effect of each on the following on December 31, 2020:

i) Total Assets U/S O/S NE

ii) Retained Earnings U/S O/S NE

iii) Stockholders Equity U/S O/S NE

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