Presentation A company reported net income of $15,000, including an extraordinary loss of $3,000. Another company owns

Question:

Presentation A company reported net income of $15,000, including an extraordinary loss of $3,000. Another company owns 40% of this company and uses the equity method to account for the investment. On the investee company’s books, does the investee report the net income of $15,000 as a single amount on its income statement?