Ravine Corporation purchased 30 percent ownership of Valley industries for $90,600 on January 1,206, when Valley had capital value of Ravine's investment in Valley's stock increased by $10,000 each year The following data were reported by the companies for the years 206 through 209. Required: a What net income would Ravine Corporation have reported for each of the years, assuming Ravine accounts for the uhtercorporate investment either by carrying the investment at fair value or by using the equity method? b-1. Gwe ali appropriate journal entries for 208 that Ravine would make if it carries the investment at fair valie. b-2 Give all approprate joumat entries for 208 that Ravine would make if it uses the equity method. Complete this question by entering your answers in the tabs below. What net income would Aavine torporation have feported for esch of the yoar as surning Rumino accotunts for thit Intercorporate investment dither by tartying the investment at fair yalgad be by using the egenty mothod