On January 2,2016,MBH Inc.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 31,2016,include the following:
Net income $150,000
Dividends paid $75,000
Required:
Prepare any necessary journal entries for MBH at December 31,2016,under the equity method of accounting for investments.

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The Answer of On January 2,2016,MBH Inc.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 31,2016,include the following:
Net income $150,000
Dividends paid $75,000
Required:
Prepare any necessary journal entries for MBH at December 31,2016,under the equity method of accounting for investments.