On January 1, 2018, Cameron Inc. bought 30% of the outstanding common stock of Lake Construction Company for $420 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. Lake's net income for the year ended December 31, 2018, was $140 million. During 2018, Lake declared and paid cash dividends of $30 million. The buildings have a remaining life of 5 years. Required: 1. Complete the table below and prepare all appropriate journal entries related to the investment during 2018, assuming Cameron accounts for this investment by the equity method 2. Determine the amounts to be reported by Cameron. Complete this question by entering your answers in the tabs below. Required 1 Calculation Required 2 Required 1 GJ Complete the table below. (Enter yo answers in millions, (i.e., 10,000,000 should be entered as 10)). Net Assets Purchased Difference Ownership Interest Investee Net Assets ($ in millions) Attributable to: Cost 420 Fair Value Cameron's assets Book Value Cameron's assets % = 0 X Adjustment Years Investment revenue / Required 1 Calculation Required 1 GJ Required 1 Calculation Required 1 GJ Required 2 Prepare all appropriate journal entries related to the investment during 2018, assuming Cameron accounts for this ir equity method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account answers in millions, (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet 2 3 4 Record the investment in Lake Construction shares. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal Required 1 Calculation Required 1 GJ Required 2 Determine the amounts to be reported by Cameron. (Amounts to be deducted should be indicated with a minus sign. E your answers in millions, (i.e., 10,000,000 should be entered as 10).) ($ in millions) Investment in Cameron's 2018 balance sheet Investment revenue in the income statement Investing activities in the statement of cash flows