Show Me How EE 15-3 p. 729 Chapter 15 Investments and Fair Value Accounting 747 OBJ. 3 E 15-3A Equity method On January 2, Cohan Company acquired 40% of the outstanding stock of Sanger Company for $500,000. For the year ended December 31, Sanger Company earned income of $80,000 and paid dividends of $30,000. Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company