On January 1, Ball Company purchased shares of Leftwich Company common stock a. Assume that the stock acquired by Ball represents 15% of Leftwich stock and that Ball classifies the investment as AFS. Prepare journal entries to record the following transactions: i. Ball purchased 5,000 C/S of Leftwich at $15 cash per share. ii. Leftwich reported annual Nl of $40,000. Ball received a cash dividend of $1.10 per share from Leftwich. Year-end market price of Leftwich common stock is $19 Ball reports how much income for the year and the value of investment at the end of the year on its B/S? (No journal entries required for this question) iii. iv. V. b. Assume that the stock acquired by Ball represents 30% of Leftwich stock and that Ball accounts for the investment using the Equity method. Prepare journal entries to record the following transactions: i. Ball purchased 5,000 C/S of Leftwich at $15 cash per share. ii. Leftwich reported annual Nl of $40,000. Ball received a cash dividend of $1.10 per share from Leftwich. Year-end market price of Leftwich common stock is $19 Ball reports how much income for the year and the value of investment at the end of the year on its B/S? (No journal entries required for this question) iii. iv. V