reported a net loss of $120,000 and paid cash dividends of $24,000. The fair value of the Infrared shares is $150,000 at year-end. Prepare journal entries for the Infrared investment, assuming: 1. CMz's investment represents 10% of Infrared shares. 2. CMz's investment represents 30% of Infrared shares. Indicate the differential effect on income between the accounting for the conditions under assumptions 1 and 2