On February 2, 2011 MBH, Inc acquired 30% of the voting common stock of Construction Corporation as a long term investment. Data from Construction Corporation financial statements for the year ended December 31, 2011 include the following:
Net Income $150,000
Dividends $75,000
Require; prepare any necessary journal entries for MBH at December 31, 2011, under the equity method of accounting for investment.