On January 2, 2020, U. S. Gillian Corp. purchased 24,000 shares (30%) of the common stock of Madison Company. The purchase price was $480,000. Gillian has significant influence over Madison. No amortization is required. During 2020, Madison reported income of $120,000 and paid dividends of $48,000. On January 2, 2021 Gillian sold 3,000 shares for $75,000. a. Compute the balance in Equity Investment at December 31, 2020. b. Prepare the journal entry to record the sale of the 3,000 shares. C. What was the balance in Equity Investment after the shares were sold? a. a