Question: On January 2 , 2 0 2 4 , MBH Incorporated acquired 3 0 % of the voting common stock of Construction Corporation as a

On January

2, 2024,

MBH Incorporated acquired

30 %

of the voting common stock of Construction Corporation as a long

-

term investment. Data from Construction Corporation's financial statements for the year ended December

31, 2024,

include the following:

Net income $

148, 000

Dividends paid $

73, 000

Required:

Prepare any necessary journal entries for MBH at December

31, 2024,

under the equity method of accounting for investments. Record the entry for cash dividend received. Record the entry for investment revenue received from Construction Corporation.

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