On Investments On January 1, 2019, the Violet Company purchased 30% of the common stock of the Amarillo Corporation for $136,000. The investment was accounted for using the equity method. Instructions: Journalize the effect of the following transactions on the Violet Company. January 1, 2019 Registration of the investment. June 30, 2019 The Amarillo Corp. paid a total of $18,000 in dividends to its shareholders. December 31, 2019 The Amarillo Corporation reported a net profit of $90,000. January 1, 2020 The Violet Company sold the investment for $210,000.