Gaw Company owns 15% of the common stock of Trace Corporation and used the equity method due to the presence of significant influence. Trace reported net income of $110,000 for 2018 and paid dividends of $60,000 on October 1, 2018. How much income should Gaw recognize on this investment in 2018? Multiple Choice $16,500 $50,000 $9,000 $7,500. $25,500