Prepare journal entries for the transactions below relating to an Equity Investment accounted for using the equity method An investor purchases 14,400 common shares of an investee at $13 per share; the shares represent 25% ownership in the investee and the investor concludes that it can exert significant influence over the investee. The investee reports net income of $144,000. The investor receives a cash dividend of $1.50 per common share from the investee. The investor sells all 14,400 common shares of the investee for $219,900