Keeler Co. owns 100,000 shares of Bay Corp which represents 40% of the outstanding shares of Bay Corp. on 1/1/2019 the balance in Keeler Co.'s investment in Bay Corp was for $4,800,000. Keeler uses the Equity Method to account for its investment in Bay Corp. and also recognizes $8,000 of amortization on this investment annually. For the full year 2019 Bay Corp. reported net income of $1,500,000 and paid dividends of $520,000. At the end of the day 12/31/2019 Keeler Co sold 20,000 shares (20% of its investment) in Bay Corp for $1,200,000. What is the balance in Keeler Co's. Investment in Bay Corp account after Keeler Co. had sold 20% of its Bay Corp shares on 12/31/2019. To determine this prepare an analysis of the Keeler's investment in Bay Corp account from 1/1/2019 up to and including the sale of 20,000 shares of Bay Corp on 12/31/2019 to prove your answer. SHOW ALL WORK IN SUPPORT OF YOUR INVESTMENT IN BAY CORP INVESTMENT ANALYSIS 1/1/19 Balance - Investment in Bay Corp 4,800,000 Prepare the Journal Entry Keeler Co. would make to record the sale of 20,000 shares of Bay Corp at 12/31/2019. Assume Keeler Co. sold the 20,000 shares for $1,000,000. What would be the Journal Entry Keeler Co. would make to record the sale of 20,000 shares of Bay Corp at 12/31/2019? Keeler Co. owns 100,000 shares of Bay Corp which represents 40% of the outstanding shares of Bay Corp. on 1/1/2019 the balance in Keeler Co.'s investment in Bay Corp was for $4,800,000. Keeler uses the Equity Method to account for its investment in Bay Corp. and also recognizes $8,000 of amortization on this investment annually. For the full year 2019 Bay Corp. reported net income of $1,500,000 and paid dividends of $520,000. At the end of the day 12/31/2019 Keeler Co sold 20,000 shares (20% of its investment) in Bay Corp for $1,200,000. What is the balance in Keeler Co's. Investment in Bay Corp account after Keeler Co. had sold 20% of its Bay Corp shares on 12/31/2019. To determine this prepare an analysis of the Keeler's investment in Bay Corp account from 1/1/2019 up to and including the sale of 20,000 shares of Bay Corp on 12/31/2019 to prove your answer. SHOW ALL WORK IN SUPPORT OF YOUR INVESTMENT IN BAY CORP INVESTMENT ANALYSIS 1/1/19 Balance - Investment in Bay Corp 4,800,000 Prepare the Journal Entry Keeler Co. would make to record the sale of 20,000 shares of Bay Corp at 12/31/2019. Assume Keeler Co. sold the 20,000 shares for $1,000,000. What would be the Journal Entry Keeler Co. would make to record the sale of 20,000 shares of Bay Corp at 12/31/2019