On January 1, 2016, Jones Company acquires a 30% interest in Fink Company by purchasing 3,000 of its 10,000 common shares for $16 per share and obtains significant influence. On the date of acquisition, the net assets of Fink were as shown here:

Book Value	Fair Value
Non-depreciable assets (for example, land)	$15,000	$25,000
Depreciable assets (10-year remaining life)	90,000	115,000
	$105,000	$140,000
Liabilities	$10,000	$15,000

During 2016, Fink earned income of $22,000 and paid dividends of $6,000.

Required:

Prepare all journal entries on Joness books to record the acquisition, dividends, and income from the investment in Fink. If you can, can you please explain in detail.