6 2 Points Khaled Corporation acquired 80% ownership of Fahad Incorporated, at a time when Khaled's investment cost was equal to 80% of Fahad's book value. At the time of acquisition, the book values and fair values of Fahad's assets and liabilities were equal. Khaled uses the equity method. During 2014, Khaled sold goods to Fahad for $160,000 making a gross profit percentage of 20%. Half of these goods remained unsold in Fahad's inventory at the end of the year. Income statement information for Khaled and Fahad for 2014 were as follows: Sales Revenue.. Cost of Goods Sold... Operating Expenses.. Separate incomes.. Khaled .$800,000... Fahad .$300,000 ..500,000... .160,000 .200,000 .80,000 .$100,000 ..$60,000 What is Khaled's income from Fahad for 2014 (Show your calculation)