Suppose that on January 6, 2018, Western Motors paid S220 000,000 for its 40% invest entin P ston Motors Western has sig ificant infiuence over Piston after the purchase. Assume Piston earned net income of $70.000,000 and paid cash dividends of $50.000,000 to all outstanding stockholders during 2018 (Assume all outstanding stock is voting stock.) Read the requirements Requirement 1. What method should Westem Motors use to account for the investment in Piston Motors? Give your reasoning Western Motors should use the | method to account for its investment in Paton Motors because the investment Requirement 2. Journalize all required 2018 transactions related to Western Motors's Piston investment Include an explanation for each entry (Record debits first then credits Select the explanation on the last line of the journal entry table If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank) Western Motors paid S220,000 000 for its 40% investment in Piston Motors Date Accounts and Explanation Debit Credit 2018