On January 1, 2019, 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 2019, Fink earned income of $22,000 and paid dividends of $6,000.

Required:
Prepare all journal entries on Jones’s books to record the acquisition, dividends, and income from the investment in Fink. Show supporting calculations.

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