Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2014 for $406,000. At the time of purchase, Song Companys total stockholders equity amounted to $496,800. Income and dividend distributions for Song Company from 2014 through 2016 are as follows:

		2014		2015		2016
Net Income (loss)		$60,600		$53,900		($57,200	)
Dividend distribution		23,800		50,600		36,300

Prepare journal entries on the books of Percy Company from the date of purchase through 2016 to account for its investment in Song Company under each of the following assumptions:

(b) Percy Company uses the partial equity method to record its investment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit 2014 (To record the investment in Song Company) (To record equity income (loss)) (To record dividend income) 2015 (To record equity income (loss)) (To record dividend income) 2016 (To record equity income (loss)) (To record dividend income) CALL: hamar