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Whispering Winds Inc. purchased $30\%$ of Nadal Corporation's $31,500$ outstanding common shares at a cost of $$15$ per share on January $3,2023.$ The purchase price of $$15$ per share was based solely on the book value of Nadal's net assetsOn September $21$ Nadal declared and paid a cash dividend of $$41,000$On December $31$Whispering Winds's year endNadal reported net income of $89,000$ for the yearNadal shares had a fair value of $$14\mathrm{.}80$ per share at December $31.$ Whispering Winds, a private Canadian corporation $,$ applies ASPE $($ a$)$ Under the assumption that the $30\%$ holding of Nadal does not give Whispering Winds significant influence over Nadalidentify the possible accounting methods Whispering Winds could use under ASPE to account for its investmentPrepare all required $2023$ journal entries under each acceptable method. $($Credit account titles are automatically indented when the amount is entered Do not indent manuallyIf no entry is required, select No Entryfor the account titles and enter for the amounts Record entries in the order displayed in the problem statement List all debit entries before credit entriesRound answers to decimal$$places$5\mathrm{.}275)$ Under the assumption that the $30\%$ holding of Nadal gives Whispering Winds significant influence over Nadal, prepare all required $2023$ journal entries, assuming Whispering Winds uses the equity method of accounting $($Credit account titles are automatically indented when the amount is enteredDo not indent manuallyIf no entry is required, select $"$No Entryfor the account titles and enter for the amounts Record entries in the order displayed in the problem statementList all debit entries before credit entries Round answers to decimal placeseg.$5,275.)$

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