On January 1, 2011, Landfill Company purchased 90,000 of the 100,000 outstanding shares of common stock of Acting Company as a long-term investment. The purchase price of $4,940,000 was paid in cash. At the purchase date, the balance sheet of Acting Company included the following: Current assets $2,937.700 Long-term assets 3,905,500 Other assets 760,000 Current liabilities 1,569,300 Common stock. $20 par value 2.012.700 Other contributed capital 1,802,100 Retained earnings 1,626,700 Additional data on Singer Company for the four years following the purchase are: 2011 2012 2013 2014 Net income (loss) $2,013,200 $478,200 ($180,200 ) ($326,300) Cash dividends paid, 12/30 497,000 497.000 497,000 497,000 Prepare journal entries under each of the following methods to record the purchase and all Investment-related subsequent events on the books of Landfill Company for the four years, assuming that any excess of purchase price over equity acquired was attributable solely to an excess of market over book values of depreciable assets (with a remaining life of 15 years). (Assume straight-line depreciation.) Date Account Titles and Explanation Debit Credit 2011 (To record the investment) (To record dividend Income) 2012 2013 2014