P13-18 Apple e ts for the investments _ Snow uses the equity method estment as an equity security for which it does not have significant influence Assume 10.000 of the Garvey shares are sold on January 4.2021 by Snow for $4.20 pet share l journal entry for this sale, assuming ate 1 Snow accounts for the investment as an equity investment for which it does not Snow uses the equity method Application of quity Method on January 1, 2016. C an murch 1,000 of the 10.000 comme shares outstanding of Ra Company for $5 per share and obtained in cant influence Doo rs ents over 10 years Ray's December 31, 2018, condensed balance sheet is shown here: Current assets $ 10,000 Uobilities $ 50,000 Fixed assets (nel) 100,000 Common stich, no por 30,000 Potents(net) 40,000 Retained earnings 70,000 $150.000 $150.000 Doe was unable to determine the fair value of Rays identifiable news shown on the preceding balance sheet sand did, however, determine that Ray uses the straight line method (no residual value to depreciate the to an ortize its patents over 20 years and 10 years, respectively. At the end of 2019, Ray disclosed the following condensed income statement and retained earning statement for 2014 $100.000 leginning and 7 0,000 Revenues 2.000 168,000) Add Nel income Expenses $ 32,000 PO 0001 Net income Lost Coil dividends Ending and coming o th e show and Required: Prepare all the 2019 journal enter that Doe should make ing calculations P13-18 Apple e ts for the investments _ Snow uses the equity method estment as an equity security for which it does not have significant influence Assume 10.000 of the Garvey shares are sold on January 4.2021 by Snow for $4.20 pet share l journal entry for this sale, assuming ate 1 Snow accounts for the investment as an equity investment for which it does not Snow uses the equity method Application of quity Method on January 1, 2016. C an murch 1,000 of the 10.000 comme shares outstanding of Ra Company for $5 per share and obtained in cant influence Doo rs ents over 10 years Ray's December 31, 2018, condensed balance sheet is shown here: Current assets $ 10,000 Uobilities $ 50,000 Fixed assets (nel) 100,000 Common stich, no por 30,000 Potents(net) 40,000 Retained earnings 70,000 $150.000 $150.000 Doe was unable to determine the fair value of Rays identifiable news shown on the preceding balance sheet sand did, however, determine that Ray uses the straight line method (no residual value to depreciate the to an ortize its patents over 20 years and 10 years, respectively. At the end of 2019, Ray disclosed the following condensed income statement and retained earning statement for 2014 $100.000 leginning and 7 0,000 Revenues 2.000 168,000) Add Nel income Expenses $ 32,000 PO 0001 Net income Lost Coil dividends Ending and coming o th e show and Required: Prepare all the 2019 journal enter that Doe should make ing calculations