On January 2, 2020, Howdy Doody Corporation purchased 14% of Ranger Corporation's common stock for $52,000. Ranger's net income for the years ended December 31, 2020, and December 31, 2021, were $17,000 and $58,000, respectively. During 2020, Ranger declared and paid a dividend of $66,000. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $66,000. How much should Howdy Doody show in the 2020 income statement as income from this investment? $23,240. $20,000. $14,000