On January 4, 2020, Netson Corporation purchased 35% of the outstanding voting common stock of Christopher Company for $560,000. This purchase gave Nelson the ability to exercise significant influence over the operating and financial policies of Christopher On the date of purchase, Christopher's books repoded assets of $2.000.000 and Sebities of $600,000 Any excess of cost over book value of Nelson's investment was stituted to a patent with a remaining usefule of ten years. During 2020 Christopher reponed net income of $250,000 and declared and paid cash dividends of $55,000 in the following year 2021, Christopher reported net income of $300.000 and declared and paid cash dividends of $10,000 In 2020, Nelson sold inventory costing $60,000 to Christopher for $80,000 Chistopher sold 75% of that inventory to outsiders during 2020 we the remainder being sold in 2021 During 2021 Nelson sold inventory costing $90.000 to Chynopher for $120.000 Chistopher sold 80% of that inventory to outsiders during 2021 Prepare all of Nelson's journal entries for 2021 to apply the equity method