LIRIES vor equity Investments: 20%-50% Ownership Instructions Chart of Accounts Jounal Elnal Question Instructions On January 4, 2014 Ferguson Company purchased 159,600 shares of Silva Company's common stock directly from one of the founders for a price of $25 per sharo Silva nas 570,000 shares outstanding, including the Daniels shares. On July 2, 2074, Silva paid $729.000 in total dividends to its shareholders. On December 31, 2014, Siva reported a net income of $1,002,000 for the year Ferguson uses the equity method in accounting for its investment in Siva Required: a. Joumalize the Ferguson Company entries for the transactions involving its investment in Sive Company during 2074 Rerer to the charter accounts for the exact wording of the account bles. CNOW joumais do not use ines for journal explanations. Every line on a journal page ja used for debit or credit entries. CNOW Journals wal automatically indent a creditentry when a creat amount is entered. Round your intermediate calculations to two decimal places. When required, round final answers to the nearest dollar b. Determine me December 31, 2014 balance of the investment in Siva Company stock account Instructions Journal JOURNAL ACCOUNTING EQUAT DATE DESCRIPTION POST REF DEBIT CREDIT TICI 3. Journalize the Ferguson Company entries for the transactions involving its investment in Silva Company duning 2014 Refer to the chart of accounts for meer of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debt or credit entries CNOWjournais wa automatically indent a credit entry when a credit amount is entered Round your intermediare calculations to two decimus places. When required, round fora to the nearest dollar ACCOUNTING EQUAT JOURNAL DEBAT POST. REF CREDIT RETS DESCRIPTION DATE x b. Determine the December 31, 2014, balance of the investment in Silva Company stock account the pdite ces