On January 2, 2018, Acquirer Co acquires 10,000 shares (5%) of Target Incs shares of common stock for $42 a share. Acquirer held the Target shares until January 9, 2020 when it sells the stock for $48 a share. Target reported the following earnings/loss per share, paid the following cash dividends per share, and the trading price of each share of its common stock are as follows: Year Earnings/Loss per share 12/31/Cash Dividends per sh Fair Mkt Value 12/31 per sh 2018 $7 earnings per share $4/share $50/share 2019 $3 loss per share $2/share $44/share INSTRUCTIONS; 1a. Prepare the journal entries that Acquirer would make during 2018 and 2019 for its investment in T assuming that Acquirers ownership of Target was insignificant. 1b. Prepare the journal entry that Acquirer Co. would make on January 9, 2020 to record its sale of the Target stock. 2a. Prepare the journal entries that Acquirer Co. would make during 2018 and 2019 for its investment in Target assuming INSTEAD that Acquirer did not know the fair market value of the Target stock (and its ownership was insignificant.) 2b. Prepare the journal entry that Acquirer Co. would make on January 9, 2020 to record its sale of the Target stock 3a. Assume INSTEAD that Acquirer elects two directors to the board and, that on 1/9/18, Acquirer appraised the net assets of Target and determined that the fair market value of Targets patent (which had a remaining life of 10 years) exceeded its book value by $800,000 and that all of Targets other assets had book values equal to their fair market values. Prepare the journal entries that Acquirer Co. would make during 2018 and 2019. 3b. Prepare the journal entry that Acquirer Co. would make on January 9, 2020 to record its sale of the Target stock