On January 1, 2019, X Inc. purchased 25% of the voting shares of Inc. for $100,000. The investment is reported using the equity method, as X has significant influence over Y. Y's net income and declared dividends for the following three years are as follows: 2019 2020 Net Income $50,000 $70,000 $30,000 Dividends $20.000 $80,000 $60,000 2021 Which of the following journal entries would have to be made to record X's share of Y's net income for 2019? Multiple Choice Credit Debit $12.500 Investment in Y Equity method income $12,500 Credit Debit $7,500 Investment in Y Equity method income $7,500 Credit Debit $12.000 Investment in Y Equity method income $12,000 No entry required