D Question 35 On January 2, 2020, Howdy Doody Corporation purchased 17% of Ranger Corporation's common stock for $57,000. Ranger's net income for the years ended December 31, 2020, and December 31, 2021, were $18,000 and $55,000, respectively. During 2020, Ranger declared and paid a dividend of $67,500. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $72,000. How much should Howdy Doody show in the 2020 income statement as income from this investment? $11,475. $15,000. $21,000. $26,475