Orleans Corporation Purchased 1,000,000 Shares of Creole Corporation's Common Stock

Orleans Corporation purchased 1,000,000 shares of Creole Corporation's common stock which constitutes 10% of Creole's voting stock on June 30,2010 for $42 per share.Orleans' intent is to keep these shares beyond the current year.On December 20,2010,Creole paid a $4,000,000 cash dividend.On December 31,2010,Creole's stock was trading at $45 per share and their reported 2010 net income was $52 million.
A.Record the transaction to record the acquisition of Creole Corporation on June 30, 2010.
B.Record the transaction for the dividend received by Orleans on December 20, 2010.
C.Record any year-end entries needed by Orleans Corporation.