1.) On January 4, 2002 Wynn Inc. bought 15% of Parr Corporation's common stock for $60,000. Wynn appropriately accounts for this investment by the cost method. The following data concerning Parr are available for the years ended Dec 31, 2002 and 2003. 2002: Net Income $30,000 Dividend Paid None 2003: Net Income $90,000 Dividend Paid $80,000 In its income statement for the year ended December 31, 2003, how much should wynn report as income from this investment. a. $4,500 b. $9,000 c. $12,000 d. $13,500