Part A OnJanuary1,Year5, Anderson Corporation paid $$50,000 for 20,000(20%) of the outstanding shares of Carter Inc. The investment Required Calculate the balance in Anderson's investment account as at December 31, Year 6. Part B Now assume that on December 31, Year 6, Anderson lost its ability to significantly influence the operating, investing, and financing decisions for Carter when another party obtained sufficient shares in the open market to obtain control over Carter. Accordingly, the investment in Carter was reclassified as a FVTPL investment. The fair value of the Carter shares was $35 per share on this date. Carter for $37 per share. Required (a) Prepare the journal entry at December 31 , Year 6 , to reclassify the investment from significant influence to FVTPL. (b) Prepare all journal entries for Year 7 related to Anderson's investment in Carter