James Wabash Inc. purchased a 30% interest in Otto Company for $1,525,000 on January 1, 2021. On November 1, 2021, Otto Company declared and paid $1.1 million in dividends. On December 31, Otto Company reported a net loss of $4.0 million for the year. What amount of loss should James Wabash Inc. report on its income statement for 2021 relative to its investment in Otto Company? Group of answer choices $1,525,000 $1,195,000 $1,635,000 $1,200,000