Question 2 (70 points) On January 1, 2021, Parasite Company acquired 25 percent of the common stock of Worm Corporation for $375,000, at underlying book value. For the same year, Worm reported net income of $70,000. It paid $12,000 dividends during the year. At December 31, 2021, Parasite determined the fair value of the shares of Worm to be $390,000 a. Give all journal entries recorded by Parasite with respect to the Investment in Worm assuming Parasite carries securities at fair value method. (25 points) b. Give all journal entries recorded by Parasite with respect to the Investment in Worm assuming Parasite uses equity method. (30 points) c. What amount would Parasite report as investment in Worm Corporation at the end of the year, if Parasite used the fair value method? (5 points) d. What amount would Parasite report as investment in Worm Corporation at the end of the year, if Parasite used the equity method? (5 points) e. How much is total income form investment if Parasite used the fair value method? (5 points)