On January 4, Year 1, Barber Company purchased 13,500 shares of Convell Company for $162,000 plus a broker’s fee of $4,400. Convell Company has a total of 67,500 shares of common stock outstanding and It is presumed the Barber Company will have a significant Influence over Convell. During each of the next two years, Convell declared and pald cash dividends of $0.75 per share, and Its net Income was $123,000 and $118,000 for Year 1 and Year 2, respectively. The January 12, Year 3, entry to record Barber’s sale of 8100 shares of Convell Company stock, which represents 60% of
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