On January 4 Year 1. Barber Company purchased 9.000 shares of Convell Company for $110,600. Convell Company has a total of 45,000 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 pald cash dividends of $0.85 per share, and its net Income was $96,000 and $91000 for Year 1 and Year 2 respectively. The January 2, Year 3, entry to record Barber's sale of 5.400 shares of Convell Company stock, which represents 60% of Barber's total investment, for $72.900 cash, should be: Debit Cash $72,900; debit Loss on Sale of Stock Investment $6,540; credit Equity Method Investments $66,360. , Debit Cash $72,900, debit Loss on Sale of Investment $6,720, credit Equity Method Investments $79,620 Debit Cash $72.900: credit Gain on Sale of Stock Investment $15,300, credit Equity Method Investments $57,600. Debit Cash $72,900; credit Gain on Sale of Stock Investment $15,300, credit Equity Method Investments $88,200. Debit Cash $72.900; debit Loss on Sale of Stock Investment $37700credit Equity Method Investments $110,600