Wildwing Capital Partners, Ltd. acquired the following equity investments at the beginning of Year 1. Widwing does not have significant influence over the investees (Click the icon to view the equity investments) Share prices at the end of Years 1 and 2 are presented below (Click the icon to view the share prices at the end of Years 1 and 2.) Additional information regarding Wildwing's equity investments follows (Click the icon to view the information) (Click the icon to view the income effect over the 2-year period using the fair value through net Income method) Read the requirements Data Table Requirement a. Prepare the journal entry to record the acquisition of the investments. (Record debits first, then cred Account Cash Reference Gain (Loss) Ready Determinable Fair V Year 1 Far vele adjustment S 700 Year 2. Disposal of ASK shares (63,000) Year 2: Far value adjustment 106,400 Year 2 Disposal of the portio Total effect on eamings: 0 3 (55.300) Acquisition Data Tabla Fair Value Crabtree Brothers End of Year 1 $ 17 $ End of Year 2 $ 25 Description Number of shares Crabtree Brothers 16.300 ASK Company 24.000 20 16 Market price per share acquisition price 423.800 304,000 Requirements $. ASK Compa Clear All 24 a. Prepare the journal entry to recont the sopusition of the investments b. Prepare the journal entry to record the end of Year 1 far value adjustment c. Assume that Wadwing sels 21,000 ASK Company shanas for $13 per share at the beginning of Year 2 to a pevate invertor Prapare the journal entry required to record the saiu. Wadwing does not adjust the fair value adjustment account at this time d. Prepare the journal entry to record the sale of the remaining shares in the total portfolio for $47.500 to a private investor in at the end of Year 2 Prepare a table that compares the income effects over the 2-year period of The two methods (air value through net income and adjusted cos Print Done