On January 1, 2013, Jones Company acquires a 30% interest in Fink Company by purchasing 3,000 of its 10,000 common shares for $16 per share and obtains significant influence. On the date of acquisition, the net assets of Fink were as shown here:

During 2013, Fink earned income of $22,000 and paid dividends of $6,000.
Required:
Prepare all journal entries on Jones' books to record the acquisition, dividends, and income from the investment in Fink. Show supporting calculations.

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Book Value Fair Value Non-depreciable assets (for example, land) 15,000 25,000 115,000 $105,000 $140,000 $ 10,000 15,000 Depreciable assets (10-year remaining life) 90,000 Liabilities