Sale of interest, control maintained. Carpenter Company has the following balance sheet on December 31, 2015:   Carpenter sells 2,000 shares of Hinckley common stock on January 1, 2016, for $40,000....

Sale of interest, control maintained. Carpenter Company has the following balance sheet on December 31, 2015:

Carpenter sells 2,000 shares of Hinckley common stock on January 1, 2016, for $40,000. Prepare the necessary entries on Carpenter’s books to account accurately for the sale of the 2,000 Hinckley shares. Provide a determination and distribution of excess schedule along with all other necessary computations as support.