On lanuary 4, Year 1, Ferguson Company purchased 84,000 shares of Sllva Company directly from one of the founders for a price of $59 per share. Silva has 300,000 shares outstanding, including the Daniels shares. On July 2, Year 1, Silva paid $227,000 in total dividends to its shareholders. On December 31, Year 1, Stiva reported a net income of $785,000 for the yeac Ferguson uses the equity method in accounting for its investment in Silva. a. Provide the Ferquson Company joumal entries for the transactions involving its investment in Silva Company during Year 1. b. Determine the. Decembet 31, Yeat 1, balance of Investinent in Silva Company Stock