On January 1, 2016, Nancy Company acquired an 80% interest in Hard Company for $1,000,000. On that date Hard Company had retained earnings of $200,000 and common stock of $800,000. The book values of assets and liabilities were equal to fair values except for the following the equipment had an estimated remaining useful life of 5 years Hard Company reported net income of $30,000 in 2016 and $40,000 in 2017 Dividends were declared and paid in the amount of $10,000 in 2016 and $15,000 in 2017. Nancy Company uses the cost method to record its investment in Hard Company Prepare investment related entries on Nancy Company's books for 2016, CAD and the work paper eliminating entries necessary in the consolidated statements work paper for the year ending December 31, 2016 (Prepare investment related entries on Nancy Company's books for 2017 and, in general journal form, the work paper eliminating entries necessary in the consolidated statements work paper for the year ending December 31, 2017