On January 1, 2024, Joiner, Inc. decides to invest in 7,500 shares of Yearling stock when the stock is selling for 518 per share On May 1, 2024, Yearling paid a $1.30 er share cash dividend to stockholders. On December 31, 2024, Yearling reports net income of $80,000 for 2024. Assume Yearling has 30,000 shares of voting stock outstanding during 2024 and Joiner has significant influence over Yearling Read the requirements Requirement 1. Identify what type of investment the Yearling stock is for Joiner. Joiner's investment would be a significant influence investment Requirement 2. Journalize the transactions related to Joiner's investment in the Yearing stock during 2024. (Record debits first, then credits. Select the explanation on he last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining pells blank.) January 1: Joiner, Inc decides to invest in 7,500 shares of Yearling stock when the stock is selling for 518 per share. Date Accounts and Explanation Debit Credit Jan. 1 Equity InvestmentsYearling 135,000 135,000 Cash Purchased investment in stock equity method). May 1: Yearling paid a $1.30 per share cash div - X Date Accounts Requirements Cash Equity InvestmentsYearling 1. Identify what type of investment the Yearling stock is for Joiner. 2. Journalize the transactions related to Joiner's investment in the Yearing stock during 2024 3. In what category and at what value would Joiner's report the investment on the December 31, 2024, balance sheet? May 1