Suppose that on January 6, 2018. East Coast Motors paid $280,000,000 for its 35% investment in Boxcar Motors. East Coast has significant influence over Boxcar after the purchase Assume Boxcar eamed net income of 590,000,000 and paid cash dividends of $45,000,000 to all outstanding stockholders during 2018. (Assume all outstanding stock B voting stock) Read the requirements Date Debit Credit 2018 Jan 6 280000000 Adjusted available for sale debt investment to market value Purchased investment in stock (at cost) Purchased investment in stock (equity method) Received cash dividend Received cash dividend (equity method) Recorded revenue earned from equity investment Recorded revenue earned from equity investment (equity method) 280000000 Suppose that on January 6, 2018, East Coast Motors paid $280.000.000 for its 35% investment in Boxcar Motors East Coast has significant influence over Boxcar after the purchase. Assume Boxcar earned net income of $90,000,000 and paid cash dividends of $45,000,000 to all outstanding stockholders during 2018. (Assume all outstanding stock is voting stock) Read the requirements Dato Accounts and explanation Debit Credit 2018 Jan 6 280000000 Caso 280000000