On January 1, 2019, Windy Meadows Corp. acquired a 10% interest in Jones Enterprises. On January 1, 2020, Windy Meadows acquired an additional 20% Jones's common stock. No goodwill resulted from either purchase. Jones reported net incomes of $500,000 and $400,000 for 2019 and 2020, respectively. Dividends paid by Jones amounted to $275,000 in 2019 and $125,000 in 2020. What amount of Equity Income should be reported by Windy Meadows in 2020? A. $82,500 B. $120,000 C. $55,000 D. $95,000