Journal entries using the Cost and Equity Method of accounting for the Same investment by the investor. (20 Pts.) a) On 1/2/18 the Xylo Corp. purchased 8000 shares of ABC Co. Common Stock At $20 per share. ABC Co. has 40000 shares of Common Stock outstanding. On 10/31/18 Xylo Corp. received a $1.50 per share dividend from ABC Co. On 12/30/18 ABC Company announced earnings of for the year at $200000. Required: Prepare the calculations and Journal Entries, in good form, if the Investment is classified as Available for sale Part A. The Cost Method. Part B The Equity Method of accounting is applicable