On January 2, 2020, Howdy Doody Corporation purchased 18% 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 $14,000 and $52,000, respectively. During 2020, Ranger declared and paid a dividend of $66,500. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $71.000. How much should Howdy Doody show in the 2020 Income statement as income from this investment? Multiple Choice $30,970 $25,000 $11.970 $19.000