e. Sara Company sells 5,000 shares of stock on July 1, 2015, at $25 per share. Wells Corporation purchases 3,700 of these shares. f. On January 1, 2016, Sara Company purchases 5,000 shares of its...

e. Sara Company sells 5,000 shares of stock on July 1, 2015, at $25 per share. Wells Corporation purchases 3,700 of these shares.

f. On January 1, 2016, Sara Company purchases 5,000 shares of its common stock from noncontrolling interests at $20 per share.

Assume Wells Corporation uses the simple equity method for its investments in subsidiaries. For 2015 and 2016, record each of the adjustments to the investment accounts. Provide all supporting calculations in good form.