On January 1, 2021. Bonita Ltd., a private company, buys 25% of Sugar Maple Candy Company's 176,000 common shares for $422.400 On December 31, 2021, Sugar Maple pays a $30,800 cash dividend and reports proht of $246,400. At December 31, 2021. Sugar Maple's shares are trading at $12.50 per share. Both companies have a December 31 year end. Bonita is able to appoint one board member to Sugar Maple's board of directors and this person has been influential in directing the operations of the company Record the above transactions assuming Bonita uses the equity method to report its investment in Sugar Maple Candy Company. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. It no entry select "No Entry for the account titles and enter for the amounts.) Date Account Tities and Explanation Credit Jan. 1 Debit (To record purchase of investment.) Dec. 31 Determine the amounts to be reported on Bonita's balance sheet and income statement for its investment in Sugar Maple at December 31, 2021 BONITA LTD. Balance Sheet (Partial) Assets BONITA LTD Income Statement (Partial)