On January 2, 2018, Howdy Doody Corporation purchased 17% of Ranger Corporation's common stock for $56,000. Ranger's net income for the years ended December 31, 2018 and 2019, were $12,000 and $50,000, respectively. During 2018, Ranger declared and paid a dividend of $63,000. On December 31, 2018, the fair value of the Ranger stock owned by Howdy Doody had increased to $68,000. How much should Howdy Doody show in the 2018 income statement as income from this investment? Multiple Choice $22,710. $12,000. $18,000. Multiple Choice O $22,710. $12,000. $18,000. $10,710. < Prev