Flower Ltd Acquired a 35 Per Cent Interest in Bud

Flower Ltd acquired a 35 per cent interest in Bud Ltd on 1 July 2013 for a cash consideration of $469 000.Bud Ltd's assets and liabilities were recorded at fair value at the time of purchase and were represented by equity as follows: $$\begin{array} { | l | r | }\hline \text { Share capital } & 985000 \\\hline \text { Retained earnings } & \underline { 355000 } \\\hline \text { Total shareholders' funds } & \underline{1340000} \\\hline\end{array}$$ Additional information relating to the period ended 30 June 2015:
The opening balance of Bud's retained earnings was $500 000.Bud Ltd had paid a dividend out of pre-acquisition profits of $30 000 during the 2013/2014 period.
Bud Ltd had an after-tax profit of $190 000 for the 2014/2015 period.
Bud Ltd revalued land during the period,creating an asset revaluation reserve of $100 000.
Bud Ltd declared a $60 000 dividend out of post-acquisition profits.This dividend will not be paid until the following period.
Flower Ltd accrues the dividends of associates as revenue when they are proposed.The investment has been recorded in Flower's books in accordance with the cost method.What consolidation journal entries are required to apply the equity accounting method for the period ended 30 June 2015?

A)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 61250 & \\\hline \mathrm { Cr } & \text { Retained earnings, beginning } & & 61250 \\\hline & & & \\\hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 66500 & \\\hline \mathrm { Cr } & \text { Share of associate's profit } & & 66500 \\\hline & & & \\\hline \mathrm { Dr } & \text { Dividend revenue } & 21000 & \\\hline \mathrm { Cr } & \text { Investment in Bud Ltd } & & 21000 \\\hline & & & \\\hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 35000 & \\\hline \mathrm { Cr } & \text { Asset revaluation reserve } & & 35000 \\\hline\end{array}$$
B)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 50750 & \\\hline \mathrm { Cr } & \text { Retained earnings, beginning } & & 50750 \\\hline & & & \\\hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 66500 & \\\hline \mathrm { Cr } & \text { Share of associate's profit } & & 66500 \\\hline & & & \\\hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 35000 & \\\hline \mathrm { Cr } & \text { Asset revaluation reseve } & & 35000 \\\hline & & & \\\hline \mathrm { Dr } & \text { Dividend revenue } & 21000 & \\\hline \mathrm { Cr } & \text { Investment in Bud Ltd } & & 21000 \\\hline\end{array}$$
C)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 469000 & \\\hline \mathrm { Cr } & \text { Share capital } & & 344750 \\\hline \mathrm { Cr } & \text { Retained earnings } & & 124250 \\\hline & & & \\\hline \mathrm { Dr } & \text { Dividend revenue } & 66500 & \\\hline \mathrm { Cr } & \text { Dividend receivable } & & 66500 \\\hline & & & \\\hline \mathrm { Dr } & \text { Land } & 35000 & \\\hline \mathrm { Cr } & \text { Asset revaluation reserve } & & 35000 \\\hline\end{array}$$
D)
$$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 124500 & \\\hline \mathrm { Cr } & \text { Retained earnings } & & 124250 \\\hline & & & \\\hline \mathrm { Dr } & \text { Investment in Bud Ltd } & 66500 & \\\hline \mathrm { Cr } & \text { Share of associate's profit } & & 66500 \\\hline & & & \\\hline \mathrm { Dr } & \text { Dividend revenue } & 66500 & \\\hline \mathrm { Cr } & \text { Dividend receivable } & & 66500 \\\hline & & & \\\hline \mathrm { Dr } & \text { Land } & 35000 & \\\hline \mathrm { Cr } & \text { Asset revaluation reserve } & & 35000 \\\hline\end{array}$$