On January 1. Vermillion Corporation, a private compary that reports under ASPE, purchased 25% of Hook Ltd, common shares for \$731,000. At December 26, Hook declared a \$40,000 dividend (Vermillion received its share of that dividend on the same day) and reported net income of $72,000. The shares fair value at December 31 was $769,000, It has chosen to account for its inwestment in Hook Ltd. using the cost model because the shares do not trade in an active market. Record each of the transactions and any necessary adjusting journal entries under this assumption. (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 0 for the amounts.) How much income would Vermillion now report for the year