Assume the same facts as in QS C-8 except that the stock acquired represents 40% of ORD Corp.’s outstanding stock. Also assume that ORD Corp. paid a $100,000 dividend on November 1, 2008, and reported a net income of $700,000 for 2008. Prepare the entries to record

(a) the receipt of the dividend and

(b) the December 31, 2008, year-end adjustment required for the investment account.

AppendixLO1