20. On January 2 2015, Howdy Doody Corporation purchased 16% of Ranger Corporation's corn on stock for $50,000 and classifled the Investment as avallable for sale. Ranger's net Income for the years ended December 31,2015 and 2016, were $15,000 and $54,000, respectively. During 2016, Ranger declared paid a dividend of $68,000. There were no dividends in 2015. On December 31, 2015, the fair value of the Ranger stock owned by Howdy Doody had increased to $73,000. How much should Howdy Doody show In the 2016 income statement as Income from this investment? $10,880. O $29,000. O $33.880 O $23.000. acBook Ai esc FI F3 FS F6 2