Answer:
The Various answers are clearly explained in the Explanations. Thank you. 
Explanation:
First, we calcuate the Net Income of Ravine Corporation Based on the FairValue Method
Year    OPerating Income    UnrealizedGain   Dividend inc.   Net Income
20x6   $140,000                  11,000                    6,000                        $157,000
20x7    80,000                     11,000                   12,000                     $103,000
20x8   220,000                     11,000                  12,000                   $243,000  
20x9   160,000                      11,000                  6,000                        $177,000
Kindly note, thta the dividend income for each year is based on 30% of the Dividend of Valley for that year for instance, Dividend income for 20x6 = 0.3 x $20,000 = $6,000
Next we calculate the Net Income of Ravine Corpoartion Under the Equity Method
Year    OPerating Income  Share ofo Income in Valley  Net Income   
20x6   $140,000                   9,000                                    149 ,000                         
20x7    80,000                    15,000                                    95,000                     
20x8   220,000                    3,000                                    223,000                      
20x9   160,000                  12,000                                     172,0000       
NOte as well that the Share of Income in Valley is 30% of the yearly net income of Valley Industries.                
Question B) Part 1
Ravine Corporation Journal Entries
S/N                                       Description                        Debit        Credit
1                                         Cash                                   12,000
                                         Dividend Revenue                                 12,000
Being the record of dividend received from valley industries
2.                                        Fair Value Adjustment       11,000
                              Unrealized holding gain or loss                       11,000    
Being the rcord of fair value change in value of the investments
 Question B) Part 2
S/N                                       Description                        Debit        Credit
1                                         Cash                                   12,000
                                         Investment in Valley                               12,000
Being the record of dividend received from valley industries
2.                                        Investment in Valley      3,000
                              Investment Income                                        3,000   
BBeing the share of income of Ravine in Valley