Required information Exercise D-8 (Algo) Compare the fair value method to the equity method (LO D-2, D-3) [The following information applles to the questions displayed below.] As a long-term investment, Fair Company purchased 20% of Midlin Company's 100,000 shares for $120,000 at the boginning of the reporting year of both companies. During the year, Midin eamed nef Income of $115,000 and distributed th dividends of $0.20 per share. At year-end, the fair value of the shares is $125.000 Exercise D-8 (Algo) Part 1 Required: 1. Assume no significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjusting entry for the investment's fair value, if appropriate. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction Ilst View journal entry worksheet