Please provide explanation with calculations! Thank you!

Exercise 4-1 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 Company's total stockholders' equity amounted to $480,500. Income and dividend distributions for Song Company from 2014 through 2016 are as follows: 2014 2015 2016 Net Income (loss) $65,000 $50,400 ($53,700 ) Dividend distribution 23,900 52,200 36,200 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: (c) Your answer is partially correct. Try again. Percy Company uses the complete equity method to record its investment. The difference between book value of equity acquired and the value implied by the purchase price was attributed solely to an excess of market over book values of depreciable assets, with a remaining life of 10 years. (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.) Debit Credit Date Account Titles and Explanation 2014 Investment in Subsidiary 406000 Cash 406000 (To record the investment in Song Company) Investment in Subsidiary 52000 52000 Equity Income (To record equity income (loss)) x Cash X 191201 X Investment in Subsidiai 19120 (To record amortization) X Equity Income 2160 Investment in Subsidiai 2160 (To record dividend income) 2015 Investment in Subsidiary 40320 40320 Equity Income (To record equity income (loss)) Cash 41760 41760 Investment in Subsidiai (To record amortization) Equity Income 2160 2160 Investment in Subsidiai (To record dividend income) 2016 Equity Loss 42960 42960 Investment in Subsidiai (To record equity income (loss)) Cash 28960 Investment in Subsidiai 28960 (To record amortization) Equity Income 2160 2160 Investment in Subsidiai (To record dividend income)