On January 1, 2021, Cameron Inc. bought 10% of the outstanding common stock of Lake Construction Company for $100 million cash, giving Cameron the ability to exercise significant influence over Lakes operations. At the date of acquisition of the stock, Lake's net assets had a fair value of $600 million. Its book value was $500 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, 2021, was $100 million. During 2021, 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 2021, assuming Cameron accounts for this investment by the equity method. 2. Determine the amounts to be reported by Cameron.

Complete the table below. (Enter your answers in millions, (i.e., 10,000,000 should be entered as 10) Prepare all appropriate journal entries related to the investment during 2021, assuming Cameron accounts for this investment by the equity method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) 1 Record the investment in Lake Construction shares. 2 Record the investor's share of net income. 3 Record the cash dividends. 4 Record the adjustment for depreciation. Note : = journal entry has been entered Determine the amounts to be reported by Cameron. (Amounts to be deducted, including losses and cash outflows, should be indicated with a minus sign. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) Complete the table below. (Enter your answers in millions, (i.e., 10,000,000 should be entered as 10) Prepare all appropriate journal entries related to the investment during 2021, assuming Cameron accounts for this investment by the equity method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) 1 Record the investment in Lake Construction shares. 2 Record the investor's share of net income. 3 Record the cash dividends. 4 Record the adjustment for depreciation. Note : = journal entry has been entered Determine the amounts to be reported by Cameron. (Amounts to be deducted, including losses and cash outflows, should be indicated with a minus sign. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).)