On January 1, 2018, Cameron Inc. bought 30% of the outstanding common stock of Lake Construction Company for $600 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $800 million. Their book value was $700 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. Lakes net income for the year ended December 31, 2018, was $300 million. During 2018, Lake declared and paid cash dividends of $20 million. The buildings have a remaining life of 5 years. Required: 1. Complete the table below and prepare all appropriate journal entries related to the investment during 2018, assuming Cameron accounts for this investment by the equity method. 2. Determine the amounts to be reported by Cameron.

($ in millions)
a. Investment in Camerons 2018 balance sheet
b. Investment revenue in the income statement
c. Investing activities in the statement of cash flows

No	Event	General Journal	Debit	Credit
1	1	Investment in Lake Construction shares	600
		Cash		600
2	2	Investment in Lake Construction shares	90
		Investment revenue		90
3	3	Cash	6
		Investment in Lake Construction shares		6
4	4	Investment revenue
		Investment in Lake Construction shares