On January 1, 2021, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction Company for $260 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 $700 million. Its book value was $600 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 $240 million. During 2021, Lake declared and paid cash dividends of $30 million. The buildings have a remaining life of 10 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.

I need correct answer for C. Thank you

Complete this question by entering your answers in the tabs below. Required 1 Calculation Required 1 Go Required 2 Determine the amounts to be reported by Cameron. (Amounts to be deducted, including losses and cash outflows, should indicated with a minus sign. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).) ($ in millions) a. Investment in Cameron's 2021 balance sheet b. Investment revenue in the income statement c. Investing activities in the statement of cash flows IS S 301 47 230 S