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On January 2, 2018, MBH Inc. acquired 20% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial

On January 2, 2018, MBH Inc. acquired 20% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial statements for the year ended December 31, 2018, include the following:

Net income $ 158,000
Dividends paid $ 83,000

Required: Prepare any necessary journal entries for MBH at December 31, 2018, under the equity method of accounting for investments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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