12. Lessington Corporation purchases 4,000 shares of Gonzalez Company common stock for $150,000 cash. Gonzalez has 500,000 shares of stock currently outstanding. Lessington's entry to record the purchase would include a: A. Debit to Stock Investments for $150,000 B. Credit to Common Stock for $150,000 C. Credit Equity Method Investment $150,000 D. Debit to Debt Investments-Held-to-maturity (HTM) for $150,000 13. On January 2, Year 1, Benton Company purchased 10,800 shares of Convell Company for $81,500. Convell Company has a total of 36,000 shares of common stock outstanding and it is presumed the Benton Company will have a significant influence over Convell. In Year 1, Convell declared and paid cash dividends of $0.85 per share, and its net income was $94,000 for Year 1. What is the book value of Benton's investment in Convell at the end of Year 1? Purchase price of investment Less: Benton's share of Year 1 dividends Plus: Benton's share of Year 1 income Book value of investment at 12/31/Year 1 6