On July 1, 2024, Clearwater Incorporated purchased 5,000 shares of the outstanding common stock of Mountain Corporation at a cost of $150,000. Mountain had 20,000 shares of outstanding common stock. The total book value and total fair value of Mountain's individual net assets on July 1,2024 , are both $600,000. The total fair value of the 20,000 shares of Mountain's common stock on December 31,2024 , is $710,000. Both companies have a January through December fiscal year. The following data pertains to Mountain Corporation during 2024: Required: 1. Prepare the necessary entries for 2024 under the equity method (other than for the purchase). 2. Prepare any necessary entries for 2024 (other than for the purchase) that would be required if the securities were accounted for under the fair value through net income method. Complete this question by entering your answers in the tabs below. Prepare the necessary entries for 2024 under the equity method (other than for the purchase). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry for cash dividend received under the equity method. Note: Enter debits before credits. Record the entry for investment revenue under the equity method. Enter debits before credits. ournal entry worksheet Record the unrealized gain or loss. ote: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the entry for cash dividend received for securities available for sale. Note: Enter debits before credits. Journal entry worksheet Record the unrealized gain or loss for securities available for sale. Note: Enter debits before credits