DeRozen Company purchases 1,000 common shares (40 %) of Tours of Toronto Incorporated as a long-term investment for $100,000 cash on July 1. Tours of Toronto paid $15,000 in total cash dividends on November 1 and reported net income of $150,000 for the year ended December 31. Prepare DeRozen's journal entry to record the December 31 year-end adjustment for its share of Tours of Toronto's net income. Multiple Choice Debit Equity Method Investments $150,000; credit Earnings from Equity Method Investments $150,000. Debit Equity Method Investments $60,000; credit Earnings from Equity Method Investments $60,000. Debit Stock Investments $60,000; credit Earnings from Equity Method Investments $60,000, Debit Equity Method Investments $150,000, credit Cash $150,000. Debit Cash $60,000; credit Earnings from Equity Method Investments $60,000.