As a long- term investment at the beginning of the year, Willie Winn Track Shoes purchased 25%

Question:

As a long- term investment at the beginning of the year, Willie Winn Track Shoes purchased 25% of Betty Will Company’s 34 million shares outstanding for $ 178 million. During the year, Betty Will earned net income of $ 130 million and distributed cash dividends of $ 1.10 per share.

Required:
Record for Willie Winn Track Shoes the purchase of the investment and its share of Betty Will’s net income and dividends using the equity method.