15. Fu Jewelers purchased 4,000,000 of the outstanding 12,000,000 shares of Harris & Associates. At the time of the acquisition, the book value of Harris's net assets equal their fair market value. Harris declared dividends of $300,000 during the year. How will Fu record this transaction?

a. Fu will increase the investment account by $100,000. b. Fu will increase Dividend Revenue by $100,000. c. Fu will increase Dividend Revenue by $300,000. d. Fu will decrease the investment account by $100,000.

16. The following summary data for Amirkhani Construction Co.'s (ACC) relates to Job 1227, which was completed in 2019, are presented below to answer question 16: $450,000 Bid price Original estimated contract cost: $180,000 195,000 2018 375,000 $75,000 2019 Gross profit Actual cost incurred in: $180,000 $200,000 2018 2019 Assuming ACC recognizes revenue over time according to percentage of completion for this contract, the gross profit recognized in 2019 would be (rounded to the nearest thousand): $70,000 $36,000 $34,000 $75,000 . b. C. d