Required information The following information applies to the questions displayed below) Surge Corporation had outstanding 120.000 shares of no-par common stock On January 10 of the current year, Crash Company purchased a block of Surge Company's shares in the open market at $20 per share for long-term investment purposes. At the end of the current year, Surge reported net income of $297000 and cash dividends of $0.80 per share: At December 31 of the current year, Surge stock was selling at $22 per share Required: 1. For each of the following situations, identify the method of accounting that Crash Company should use. Accounting Method 18.000 sharon purchased 36,000 shares purchased Required information The following information applies to the questions displayed below! Surge Corporation had outstanding 120,000 shares of no-par common stock. On January 10 of the current year, Crash Company purchased a block of Surge Company's shares in the open market at $20 per share for long-term investment purposes. At the end of the current year, Surge reported net income of $297000 and cash dividends of $0.80 per share. At December 31 of the current year, Surge stock was selling at $22 per share 2-6. Prepare the journal entries for Crash Company at the dates indicated assuming 18.000 shares of Surge Corporation were purchased. Assume the investment will be held long term. 2-b. Prepare the journal entries for Crash Company at the dates indicated assuming 36.000 shares of Surge Corporation were purchased. Assume the investment will be held long term. 3-0. Show how the long-term investments should be reported on the current year's balance sheet 3-b. Show how the long-term investments should be reported on the current year's income statement Complete this question by entering your answers in the tabs below. Reg 2A Reg 20 Reg 3 Red 30 Prepare the journal entries for Crash Company at the dates indicated assuming 18,000 shares of surge corporation were purchased. Assume the investment will be held long term. (If no entry is required for a transactionJumaty required in the first account field.) View transaction list Journal entry worksheet