Mayor Company bought 5% of Pegasus Inc.'s common stock on 1/1/19 for $100,000 and used the fair value method. On 1/1/21, Mayor bought an additional 20% of Pegasus Inc.'s common stock for $700,000. This additional ownership of common stock gave Mayor the ability to significantly influence Pegasus. On 1/1/21, the fair value of the common stock was $2,500,000 and book value of $2,000,000. On 1/1/21, Pegasus had total assets of $4,600,000 and total liabilities of $2,200,000, and any excess cost is attributed to Goodwill. For the year 2021, Pegasus Inc. had Other Comprehensive Loss of $400,000. Record the journal entries related to the additional purchase and the Other Comprehensive Loss. What is goodwill associated with this investment? B Ff TY What is goodwill associated with this investment? Date Account Debit Credit