Cody Industries owns 35% of Macarthy Company. For the current year Macarthy reports net income of $250000 and declares and pays a $60000 cash dividend. Which of the following correctly presents the journal entries to record Cody's equity in Macarthy's net income and the receipt of dividends from Macarthy? 
Definitions:
Richard Herrnstein
An American psychologist known for his work on intelligence and crime as well as the controversial book "The Bell Curve," co-authored with Charles Murray.
College Entrance Exam
Standardized tests that assess a student's readiness for college and are often used as part of the college admissions process.
Psychological Test
A standardized measure designed to assess an aspect of an individual's mental or emotional state or personality.
Standardization
The process of making something conform to a standard by ensuring consistency and uniformity among different instances or products.
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