Orbit Services, Inc B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 182,000 & \\\hline \text { Dividend Revenue } & & 182,000 \\\hline\end{array}$$

Orbit Services, Inc. pays $700,000 to acquire 30% (200,000 shares) of the voting stock of State Investments, Inc. on January 5, 2019. State Investments, Inc. declares and pays a cash dividend of $1.40 per share on June 14, 2019. Which of the following is the correct journal entry for the transaction on June 14, 2019?

A) $$\begin{array} { | l | l | l | } \hline \text { Equity Investments-State Investments, Inc. } & 182,000 & \\\hline \text { Cash } & & 182,000 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 182,000 & \\\hline \text { Dividend Revenue } & & 182,000 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | l | } \hline \text { Cash } & 182,000 & \\\hline \text { Equity Investments-State Investments, Inc. } & & 182,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 182,000 & \\\hline \text { Retained Earnings } & & 182,000 \\\hline\end{array}$$