Orcullo Ltd. had the following investment portfolio at January 1, 2020 Investment Quantity Cost per Share Fair Value at Dec. 31, 2019 Li Corp 900 $15.00 $12.50 Liang Corp. 800 20.00 17.50 Lin Corp. 600 9.008.20 During 2020 , the following transactions took place 1. 1. On March 1Liang Corp. paid a $2 per share dividend. 2. 2. On April 30, Orcullo sold 300 shares of Lin Corp. for $10 per share. 3. 3. On May 15, Orcullo purchased 200 more Li Corp. shares at $16 per share . 4. 4. At December 31, 2020, the shares had the following market prices per share: Li Corp. $17Liang Corp. $19; and Lin Corp. $8. Instructions a. Assuming that Orcullo Ltd. is a publicly accountable enterprise that accounts for its investment portfolio at FV-OCI (with no recycling to net income), prepare journal entries to record all of the 2020 transactions and year- end events . 14 marks b. Assume that only Liang Corp is held under the equity method with no year end revaluation and 2020 Net income (EPS) is $5 per share. Prepare the equity method journal entries for the year for Liang Corp.6 marks