P2-19 Investments Carried at Fair Value and Equity Method LO 2-2, 2-4 Gant Company purchased 30 percent of the outstanding shares of Temp Company for $71,000 on January 1, 20X6. The following results are reported for Temp Company 20x6 $42,000 15,000 20X7 $37,000 27,000 20x8 $58,000 20,000 Book Net income Dividends paid Fair value of shares held by Gant: January 1 December 31 71,000 90,000 90,000 87,000 87,000 98,000 rint Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp: erences a Carries the investment at fair value. b. Uses the equity method. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the fair value option in accounting for its investment in Temp. 20X6 20X7 20x8 Income from investment Balance in investment Required B >