On July 1, 2020, Altuve Inc. purchased 6,000 shares of the outstanding common stock of Trout Corp at a cost of $140,000. Trout had 30,000 shares of outstanding common stock. The total book value and total fair value of Trout's individual net assets on July 1, 2020, are both $700,000. The total fair value of the 30,000 shares of Trout's common stock on December 31, 2020, is $760,000. Both companies have a January through December fiscal year. The following data pertains to Trout Corporation during 2020:

Dividends declared and paid, Jan. 1-Jun. 30	$12,000
Dividends declared and paid, Jul. 1-Dec. 31	$12,000

Net income, January 1-June 30	$14,000
Net income, July 1-December 31	$18,000

Required: 1. Prepare the necessary entries for 2020 under the equity method (other than for the purchase). 2. Prepare any necessary entries for 2020 (other than for the purchase) that would be required if the securities are classified as available for sale.