On January 1, Lyon Corporation purchased a 25% equity investment in Shane Corporation for $150,000. At December 31, Shane declared and paid a $80,000 cash dividend and reported net income of $380,000.

Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record receipt of dividend) (To record revenue from investment)