Problem Three: Equity Investment Transactions Blended Co. acquired 25% of the 500,000 shares of outstanding common stock of Overbank Inc. on December 31, 2020. The purchase price was $3,600,000. Overbank declared and paid $1.00 per share cash dividends on June 30,2021 . Overbank reported net income of $1,200,000 for 2021 . The fair value of Overbank common stock was $27 per share at December 31, 2021 . Required: (a) Prepare the journal entries for Blended Co. for 2020 and 2021, assuming that Blended cannot exercise significant influence over Overbank. Also assume that management purchased these investments with the intention of benefiting from short-term increases in market value. (b) Prepare the journal entries for Blended Co. for 2021, assuming that Blended can exercise significant influence over Overbank. (c) At what amount is the investment in securities reported on the balance sheet under each of these methods at December 31, 2021? What is the total net income reported in 2021 under each of these methods