1 In January 2021, Domingo, Inc., acquired 20 percent of the outstanding common stock of Martes, Inc., for $832,000. In 2021, Martes reported net income of $254,000, Dividends of $100,000 were declared in 2021. The fair value of Domingo's investment in Martes, as determined by market prices, was $847,000. Assume Domingo has no significant influence over Martes, what amount of income from investment in Martes should Domingo report in year 20217 O $20,000. O $50,800. O $15,000. O $35,000. What method is used to account for an equity investment in voting stock when the investor lacks significant influence and fair value is determinable? O Equity method O Amortized cost method O Consolidation method Fair value method QUESTION 3 In January 2021. Domingo, Inc., acquired 20 percent of the outstanding common stock of Martes, Inc., for $832,000. In 2021, Martes reported net income of $254,000. Dividends of $100,000 were declared in 2021. The fair value of Domingo's investment in Martes, as determined by market prices, was $847,000. Assume Domingo has significant influence over Martes, what amount of income from investment in Martes should Domingo report in year 2021? O $15,000. O $35,000. O $50,800. O $20,000. 4