On January 4, Year 1, Barber Company purchased 11,000 shares of Convell Company for $132,000.Convell Company has a total of 55,000 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.85 per share, and its net income was $108,000 and $103.000 for Year 1 and Year 2, respectively, The January 2, Year 3, entry to record Barber's sale of 6,600 shares of Convell Company stock, which represents 60% of Barber's total investment, for $89,100 cash, should be: Multiple Choice Debit Cash $89,100, debit Loss on Sale of Stock Investment $7.860, credit Equity Method investments $81240 Debit Cash $89.100; credit Gain on Sale of Stock investment $18,700, credit Equity Method investments $107,800 Debit Cash $89,100; debit Loss on Sale of Stock Investment $7,860; credit Equity Method Investments $81.240 44:02 Debit Cash $89.100 credit Gain on Sale of Stock Investment $18,700, credit Equity Method Investments $107,800 O Debit Cash $89.100, credit Gain on Sale of Stock Investment $18.700, credit Equity Method investments $70,400. Debit Cash $89.900: debit Loss on Sale of Stock Investment $46,300, credit Equity Method Investments $132,000 Debit Cash $89.100; debit Loss on Sale of Investment $4,200: credit Equity Method Investments $93,300