Your answer is partially omect. Try again. On January 3, 2016, Martn ompany purchased for $500,000 cash a 10% interest in Renner Corp On that date, the The excess of cost over the underlying equity in net assets is attributable to purchase et assets of Renner had a book value of noo,000 undervalued depreciable assets having a remaining life of 10 years from the date of Martin's The fair value of Martin's investment in Renner securities is as follows: December 31, 2016, $560,000, and December 31, 2017, $515,00o. On January 2, 2018, Marti-purchased an additional 30% of Renner's stock for $1,545,000 cash when the book value f Renner's net assets was $4,150,000. The excess was attributable to depreciable assets having a remaining life of 8 years During 2016, 2017, and 2018, the following occurred Renner Net Income Dividends Paid by Renner to Martin $350,000 450,000 550,000 15,000 20,000 70,000 2017 2018 On the books of Martin Company, prepare all journal entries in 2016, 2017, and 2018 tht relate to its investment in Renner Corp., reflecting the data above and a change from the fair value method to the equity method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Tities and Explanation Debit Credit an. 3, 2016 Equ ty Investments (Avalable-for-Sale) Cash soD000 (To record the purchase of a 10% interest in Renner Corp) Dec. 31, 2016Cash