1. The Colts Corporation has acquired a 10% interest in the shares of Giants Corporation. Colts reported income for 20X1 of $25 million and issued dividends of $10 million during the year. Becaise Colts use the available for sale method of accounting for their investment in Giants, for 20X1 the value of their income will a. b. RACE C. d. increase by $25 million, the amount of Giants earnings increase by $1 million, the dividends paid by Giants to Colts decrease by $10 million, the amount Giants paid out in dividends increase by $1.5 million, Colts' share in the earnings of Giants reduced by their share of the dividends paid out