On January 1, Duffy Dog Corporation, a publicly traded company, purchased 25% of Hook Ltd. common shares for $826,000. At December 26, Hook declared a $40.000 dividend (Duffy Degreceived its share of that dividend on the same day and reported net income of $23,000. The shares' fair value at December 31 was $864,000. Cal Record each of these transactions, assuming Duffy Dog has significant influence over Hook and is using the equity method to account for this investment. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 26 V (To record dividends received) Dec 31 V (To record Duffy Dog's share in profit) (6) How much income would Duffy Dog report because of its investment in Hook? Incoms S e Textbook and Media Save for Later Attempts: 0 of 1 used Submit