Use the financial statement effects template to record the following transactions involving investments in marketable securities accounted for using the equity method.

a. Purchased 12,000 common shares of Bakersfield Co. at $12 per share; the shares represent 30% ownership in Bakersfield.
b. Received a cash dividend of $2.00 per common share from Bakersfield.
c. Bakersfield reported annual net income of $123,000.
d. Sold all 12,000 common shares of Bakersfield for $159,000

5. understanding marginal and average tax rates consider the economy of citronia, where citizens consume only oranges. assume that oranges are priced at $1 each. the government has devised the following tax plans: plan a • consumption up to 1,000 oranges is taxed at 50%. • consumption higher than 1,000 oranges is taxed at 20%. plan b • consumption up to 2,000 oranges is taxed at 15%. • consumption higher than 2,000 oranges is taxed at 60%. use the plan a and plan b tax schemes to complete the following table by deriving the marginal and average tax rates under each tax plan at the consumption levels of 300 oranges, 1,200 oranges, and 3,000 oranges, respectively. consumption level plan a plan b (quantity of oranges) marginal tax rate average tax rate marginal tax rate average tax rate (percent) (percent) (percent) (percent) 300 1,200 3,000 complete the following table by indicating whether each plan is a progressive tax system, a proportional tax system, or a regressive tax system. progressive proportional regressive plan a plan b