On January $1,2018,$ Cameron Inc. bought $20\%$ of the outstanding common stock of Lake Construction Company for $$300$ million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $$900$ million. Their book value was $$800$ million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one$-$half of the difference. Lake's net income for the year ended December $31,2018,$ was $$150$ million. During $2018,$ Lake declared and paid cash dividends of $$30$ million. The buildings have a remaining life of $10$ years.

Required:

Prepare all appropriate journal entries related to the investment during $2018,$ assuming Cameron accounts for this investment by the equity method.

Determine the amounts to be reported by Cameron:

a$.$ As an investment in Cameron's $2018$ balance sheet

b$.$ As investment revenue in the income statement

c$.$ Among investing activities in the statement of cash flows