Mars Services, Inc. pays $700,000 to acquire 30% (200,000 shares) of voting stock of Grey Investments, Inc. on January 5, 2017. Grey Investments, Inc. declares and pays a cash dividend of $4.4 per share on June 14, 2017. Which of the following is the correct journal entry for the transaction on June 14, 2017?

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The Answer of Mars Services, Inc. pays $700,000 to acquire 30% (200,000 shares) of voting stock of Grey Investments, Inc. on January 5, 2017. Grey Investments, Inc. declares and pays a cash dividend of $4.4 per share on June 14, 2017. Which of the following is the correct journal entry for the transaction on June 14, 2017?