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orting a Change from the Equity Method to Insignificant Influence ume on August 1, 2022, an investor company owns 32% of the common stock of an investee and can exercise significant influence over the investee. On this same date, the investor , for $90,000,24% of the outstanding common stock of the equity investment to an unaffiliated party. Immediately preceding this sale, the investor's balance of the 32% Equity stment account was $72,000. As a result of this sale, the investor sold 75% of its previously held investment (i.e., 24%/32%) and now retains 25% of the previous investment. uired isume the investor determined the investee's stock does have a readily determinable fair value. Prepare the journal entry (or entries) the investor company should record on August 122. isume the investor determined the investee's stock does not have a readily determinable fair value, and the transaction resulting in the loss of significant influence does provide an rvable price change in orderly transactions for the identical or a similar investment of the same issuer. Prepare the journal entry (or entries) the investor company should record on ist 1,2022 . sume the investor determined the investee's stock does not have a readily determinable fair value, and the transaction resulting in the loss of significant influence does not provide servable price change in orderly transactions for the identical or a similar investment of the same issuer. Prepare the journal entry (or entries) the investor company should record ggust 1, 2022. Reporting a Change from the Equity Method to Insignificant Influence Assume on August:1, 2022, an investor company owns 32% of the common stock of an investee and can exercise significant, influence over the investee. On this same date, the investor sold, for $90,000,24% of the outstaniding common stock of the equity investment to an unaffillated party. immediately preceding this sale, the investor's balance of the 32% Equity Investment account was 572,000 . As a result of this sale, the investor sold 75% of its previously held investment (1.e,24%, 132%6 and now retains 25%6 of the previous investment. Required a. Assume the investor determined the investee's stock does have a readily determinable fair value. Prepare the joumal entry (or entries) the investor company should record on August 1. 2022 b. Assume the investor determined the investee's stock does not have a readily determinable fair value, and the transation resulting in the loss of significant influence does provide an observable price change in orderly transactions for the identical or a similar investment of the same issuer. Prepare the journal entry for entries) the investor company should record on August 1. 2022 c. Assume the investor determined the investee's stock does not have a readily determinable fal value, and the transaction resuiting in the loss af significant infiuence does not provide an-observable price change in orderly transactions for the identical or a similar investment of the same/sster. Rrepare the joumal entry (or entrles) the investor company should record on August 1,2022 orting a Change from the Equity Method to Insignificant Influence ume on August 1, 2022, an investor company owns 32% of the common stock of an investee and can exercise significant influence over the investee. On this same date, the investor , for $90,000,24% of the outstanding common stock of the equity investment to an unaffiliated party. Immediately preceding this sale, the investor's balance of the 32% Equity stment account was $72,000. As a result of this sale, the investor sold 75% of its previously held investment (i.e., 24%/32%) and now retains 25% of the previous investment. uired isume the investor determined the investee's stock does have a readily determinable fair value. Prepare the journal entry (or entries) the investor company should record on August 122. isume the investor determined the investee's stock does not have a readily determinable fair value, and the transaction resulting in the loss of significant influence does provide an rvable price change in orderly transactions for the identical or a similar investment of the same issuer. Prepare the journal entry (or entries) the investor company should record on ist 1,2022 . sume the investor determined the investee's stock does not have a readily determinable fair value, and the transaction resulting in the loss of significant influence does not provide servable price change in orderly transactions for the identical or a similar investment of the same issuer. Prepare the journal entry (or entries) the investor company should record ggust 1, 2022. Reporting a Change from the Equity Method to Insignificant Influence Assume on August:1, 2022, an investor company owns 32% of the common stock of an investee and can exercise significant, influence over the investee. On this same date, the investor sold, for $90,000,24% of the outstaniding common stock of the equity investment to an unaffillated party. immediately preceding this sale, the investor's balance of the 32% Equity Investment account was 572,000 . As a result of this sale, the investor sold 75% of its previously held investment (1.e,24%, 132%6 and now retains 25%6 of the previous investment. Required a. Assume the investor determined the investee's stock does have a readily determinable fair value. Prepare the joumal entry (or entries) the investor company should record on August 1. 2022 b. Assume the investor determined the investee's stock does not have a readily determinable fair value, and the transation resulting in the loss of significant influence does provide an observable price change in orderly transactions for the identical or a similar investment of the same issuer. Prepare the journal entry for entries) the investor company should record on August 1. 2022 c. Assume the investor determined the investee's stock does not have a readily determinable fal value, and the transaction resuiting in the loss af significant infiuence does not provide an-observable price change in orderly transactions for the identical or a similar investment of the same/sster. Rrepare the joumal entry (or entrles) the investor company should record on August 1,2022