On January 4, Year 1, Barber Company purchased 13,000 shares of Convell Company for $156,000. Convell Company has a total of 65,000 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 $120,000 and $115,000 for Year 1 and Year 2, respectively. The January 2, Year 3, entry to record Barber's sale of 7,800 shares of Convell Company stock, which represents 60% of Barber's total investment, for $105,300 cash, should be: Multiple Choice Debit Cash $105,300: debit Loss on Sale of investment $3,240; credit Equity Method Investments $108,540. Debit Cash $105,300, credit Gain on Sale of Stock Investment $22,100; credit Equity Method Investments $127.400 Debit Cash $105,300; debit Loss on Sale of Stock Investment $9,180, credit Equity Method Investments $96,120 Debit Cash $105,300; debit Loss on Sale of Stock Investment $54,900: credit Equity Method investments $156,000 Debit Cash $105,300, credit Gain on Sale of Stock Investment $22,100, credit Equity Method Investments $83,200