Tips: only need to write down the answer in the blue box

Now assume that Boom Beverage Corporation purchased 180,000 of the 400,000 outstanding shares of I-Water Company. Boom Beverage accounts for the investment using the EQUITY method. Fill in the shaded blanks on the partial financial statements below to show how Boom Beverage' investment is reflected in Boom Beverage' 2018-2020 financial statements. Again, it may help you to write out the journal entries/t- accounts when thinking about how the transactions affect the financial statements, but journal entries are not required. > On April 4, 2018, Boom Beverage Corporation purchased 180,000 shares of I-Water Company common stock for $60 per share. During 2018, I-Water Company's net income was $1,200,000, and the company declared and paid a $1.00 per share cash dividend. > On December 31, 2018, 1-Water Company stock was trading at $57 per share. During 2019, I-Water Company's net income was $1,400,000, and the company declared and paid a $1.20 per share cash dividend. > On December 31, 2019, I-Water Company stock was trading at $62 per share. On October 19, 2020, Boom Beverage sold its entire investment in I-Water Company for $65 per share. Boom Beverage Corporation Balance Sheets (Partial) In $ As of As of December 31, 2020 December 31, 2019 As of December 31, 2018 Investments (Equity Method) Boom Beverage Corporation Income Statements (Partial) In $ Year ended Year ended December 31, 2020 December 31, 2019 Year ended December 31, 2018 Investment Income (Loss), net *Note that Boom Beverage' Investment Income (Loss), net account incorporates all revenues/expenses related to its investment in I-Water Company Inc. (for Equity Method investments, this includes equity in investee earnings/losses and gains/losses on sale)