Stober Company purchases an investment in Lang Company at a purchase price of $1 million cash, representing 30% of the book value of Lang. During the year, Lang reports net income of $100,000 and pays cash dividends of $40,000. At the end of the year, the fair value of Stobers investment is $1.2 million.

e. Post the journal entries from d to their respective T-accounts.

f. Record each of the transactions from d in the financial statement effects template.

e. Post the journal entries from d to their respective T-accounts. Cash (A) Investment Income (R) Investment in Lang Company (A) 1. f. Record each of the transactions from d in the financial statement effects template. Income Statement Balance Sheet Transaction Cash Asset + Noncash Assets = Liabilities + Contrib. Capital + Earned Capital Purchase stock in Lang Company $ 0 + $ 0 = $ 0 + $ 0 + $ Recognize share of Lang income O + 0 = 0+ 0 + Receive dividend from Lang 0 = Revenues - Expenses = Net Income 0 - $ 0 = $ O- 0 - 0 = 0 O 0 + 0+ O + + O Please answer all parts of the