On January 1,20X1, Robin Company purchased for cash 30 percent of Lucifer Companys 300,000 shares of voting common stock for 5570,000 when 30 percent of the underlying equity in Lucifer's net assets was $360,000. The payment in excess of underlying equity was assigned to amortizable assets with a remaining life of six years. As a result of this transaction, Robin has the abdity to exercise significant influence over Lucifer's operating and financial policies. Wucifer's net income for the year ended December 31,20X1, was $320,000. During 20X1, Lueifer paid $80,000 in dividends to its shareholders. The income reported by Robin for its investment in Luciter should be $96,000. $84,000 $72000 $61.000