Fullorton purchases 40 percent of James Company on January 1, 2021 for $28.000. Amough Fullorton did not use it this casten gave Fullertoni ability to apply wanting to James's operating and financing policies James reports assets on that date of $1.518,000 with tilities of 5574.000. One tulding with a seven yearentaining He is indervalued on James books by $213.500. Also, James's book value for its trademark (yar romaining life is undervalued by $382.500. During the year as portal income of $165.000 while con dividends of $130,000. What is the equity income in Janos to be reported by Fulletion in 2017 $47.700 $75,200 561400 $52.500