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Required information PAD-2 (Static) Comparing the Fair Value and Equity Methods [The following information applies...

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Required information PAD-2 (Static) Comparing the Fair Value and Equity Methods [The following information applies to the questions displayed below.] Lisa Company had outstanding 100,000 shares of common stock. On January 10, 2021, Marg Company purchased a block of these shares in the open market at $20 per share. At the end of 2021 , Lisa reported net income of $300,000 and cash dividends of $0.60 per share. At December 31, 2021, Lisa Company stock was selling at $18 per share. AD-2 (Static) Parts 2 and 3 a. Prepare the journal entries for Marg Company at the dates indicated for Case A: 10,000 shares purchased. b. Prepare the journal entries for Marg Company at the dates indicated for Case B: 40,000 shares purchased. 3. Complete the following schedule to show the separate amounts that should be reported on the 2021 financial statements of Marg Company: repare the journal entries for Marg Company at the dates indicated for Case B: 40,000 shares purchased. (If no entry equired for a transaction/event, select "No Journal Entry Required" in the first account field.) Complete the following schedule to show the separate amounts that should be reported on the 2021 financial statements o Marg Company: (Enter any losses with a minus sign.)

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