McCloud Corporation owns equity-method investments in several companies. McCloud paid $1,000,000 to acquire a 40% investment in Slater Software Company. Slater reported net income of $600,000 for the first year and declared and paid cash dividends of $410,000. Without making journal entries, record the investment transactions directly in the McCloud T-account, Equity-method Investment. Assume that after all the noted transactions took place, McCloud sold its entire investment in Slater for cash of $1,700,000. How much is McCloud's gain or loss on the sale of the investment? Post the investment transactions and determine the balance in McCloud's T-account for Equity-method Investment. Equity-method Investment Assume that after all the noted transactions took place, McCloud sold its entire investment in Slater for cash of $1,700,000. How much is McCloud's gain or loss on the sale of the investment? If McCloud sold its entire investment in Slater for cash of $1,700,000, it would record a v of $ gain loss