On January 1, 2020, Yang Corporation acquired 25 percent of the outstanding shares of Spiel Corporation at book value for $100,000 cash. Spiel Company reported net income of $75,000 and paid dividends of $30,000 for both 2020 and 2021. The fair value of shares held by Yang was $110,000 and $105,000 on December 31, 2020 and 2021 respectively 1. Based on the preceding information, what amount will be reported by Yang as Income from its Investment in Spiel for 2020 and 2021 using the equity method of accounting? Assume yang can exercise significant influence over Spiel. 2. Assume Yang lacks significant over Spiel, hence the fair value method of reporting its Investment in Spiel is appropriate. What amount of income would be reported in 2020 and 2021? Include both the amount of Income from the Investment and any Gain/Loss related to Fair Value Adjustment. 3. Based on the preceding information, what amount will be reported by Yang as the balance in Investment in Spiel on December 31, 2020 and 2021 using the equity method of accounting? 4. Based on the preceding information, what amount will be reported by Yang as balance in Investment in Spiel on December 31, 2020 and 2021 using the fair value method of accounting