Question 27 GM reports $100,000 net income. SSS holds 1000 shares of GM representing 1% of GM's outstanding shares. Journalize SSS's recognition of GM's net income. no journal entry required debit stock investment and credit revenue from stock investments $1000 debit cash and credit revenue from stock investments $1000 debit stock investments and credit gain from stock investments $1000 Question 25 LMN reports net income $150,000. ABC co owns 30% of LMN's outstanding shares and is using Equity Method. What is the journal entry for ABC? debit stock investments and credit revenue from stock investments $45,000 no journal entry required debit stock investments and credit gain from stock investments $45,000 debit cash and credit gain from stock investments $45,000