Question II: Fill in the dollar changes caused in the Investment account and Dividend Income or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method or (b) the equity method for accounting for its investments in Hudson Company. You should have amounts for BOTH methods for each of the 4 activities. 1. At the beginning of Year 1, Crane bought 30% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $800,000 on this date. 2. During Year 1, Hudson reported $60,000 of net income and paid $30,000 of dividends. 3. During Year 2, Hudson reported $30,000 of net income and paid $20,000 of dividends. 4. During Year 3, Hudson reported a net loss of $10,000 and paid $4,000 of dividends. 5. Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue. Fair Value Method Investment Dividend Account Income Equity Method Investment Investment Account Revenue