PROBLEM 5(15 points) On January 2, 2017, Zathras Corp. paid $516,000 for 24% (48,000 shares) of the outstanding common stock of Branmer Co. Zathras used the equity method to account for the investment. At the end of 2017, the balance in the investment account was $620,000. On January 2, 2018, Zathras sold 12,000 shares of Branmer stock for $12 per share. For 2018, Branmer reported net income of $118,000 and paid dividends of $30,000. Required: a) Prepare the journal entry to record the sale of the 12,000 shares. Please show calculations so that partial credit can be granted. b) After the sale has been recorded, what is the balance in the investment account? Please provide an appropriate table with enough information for the granting of partial credit. c) What percentage of Branmer Co. stock does Zathras own after selling the 12,000 shares? Please provide an appropriate table with enough information for the granting of partial credit. Because of the sale of stock, Zathras can no longer exercise significant influence over the operations of Branmer. What effect will this have on Zathras's accounting for the investment? (i.e. what is the name of the accounting method that will be used NOT a description) e) Prepare Zathras's journal entries related to the investment for the rest of 2018. Please show calculations so that partial credit can be granted