Return to question Gant Company purchased 30 percent of the outstanding shares of Temp Company for $74,000 on January 1, 20X6. The following results are reported for Temp Company: 20 points 20x6 $ 45,000 12,000 20x7 $40,000 25,000 20x8 $ 59,000 17,000 Net income Dividends paid Fair value of shares held by Gant: January 1 December 31 74,000 93,000 93,000 90,000 90,000 101,000 Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp: a. Carries the investment at fair value. b. Uses the equity method. & Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the fair value option in accounting for its investment in Temp. Income from investment Balance in investment $ $ 2086 3,900 $ 89,000 $ 2087 8,100 $ 5,400 $ 2088 16,000 $ 3,200