Calculate the amount of net income reported by IJK Company in $2027.$

On January 1, 2027, Kasson Company acqui red 40% of IJK Company's common stock for $183,. Kasson Company's December 31, 2027 balance sheet reported an Investment in I JK Company with a $216, 780 balance. At December 31, 2028, Kasson Company sold one-fourth of its investment in I JK Company. Kasson Company reported a gain on the sale of the investment of $7, 745. IJK Company reported fol lows : Net income Total dividends paid Calculate the amount Company in 2027. net income and paid dividends as 2027 7 $12 , 2028 $136, $ 16,000 of net income reported by I JK