Buford Industries owns 40% of Appalachian Company. For the current year, Appalachian reports net income of $250,000 and declares and pays a $70,000 cash dividend. Which of the following correctly presents the journal entries to record Buford's equity in Appalachian net income and the receipt of dividends from Appalachian? 
Definitions:
Stock Price
Stock price is the amount of money required to purchase a share of a company's stock, fluctuating based on supply, demand, and market sentiment.
Subscription Price
The cost at which existing shareholders can purchase additional shares in a company, often at a discount during a rights issue.
Rights Offering
An offering where existing shareholders have the right, but not the obligation, to purchase new shares at a discount to the public offering price, within a specific time frame.
Stock Price
The current price at which a share of stock can be bought or sold on the stock market.
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