On 1 January 20X5, Zan Company purchased 5,000 of the 20,000 outstanding common shares of Woo Computer Corp. (WC) for $120,000 cash. Zan had significant influence as a result of the investment and will use the equity method to account for the investment. On 1 January 20X5, the statement of financial position of WC showed the following book values (summarized): Assets not subject to depreciation Assets subject to depreciation (net) Liabilities Common shares Retained earnings *Fair value, $170,000; difference relates to land. $ 150,000* 120,000** 40,000 180,000 50,000 **Fair value, $140,000, estimated remaining life, 5 years. Assume there is no impairment of goodwill. Additional subsequent data on WC are as follows: Earnings 20X5 $ 40,000 Cash dividends declared and paid Fair value per share S 15,000 17 20X6 $65,000 20,000 $ 31 Required: 1-1. Provide the investor's entries or give the required information for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Entry at date of acquisition. c. Entries at 31 December 20X5 to recognize investment revenue and dividends. d. Entries at 31 December 20X6 to recognize investment revenue and dividends. View transaction list 1 Record acquisition of investment. 2 Record the Investment revenue for 20X5. 3 Record the dividends received for 20X5. 4 Record the Investment revenue for 20X6. 5 Record the dividends received for 20X6. journal entry has been entered Note: Record entry Credit Clear entry View general journal >