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Jupiter Corp. is a 40% investor in Neptune Co. and uses the equity method to account for its investment. On January 1, 2020, the balance
Jupiter Corp. is a 40% investor in Neptune Co. and uses the equity method to account for its investment. On January 1, 2020, the balance in Jupiters Investment in Neptune account was $8,000. Neptune reported losses of $50,000 in 2020 and $30,000 in 2021 and paid no dividends in either year. In 2022, Neptune reported net income of $90,000 and paid dividends to all shareholders totaling $16,000. How much income (if any) will Jupiter report from its investment in 2022? A. $12,000 B. $6,400 C. $5,600 D. $0 E. Some other amount
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