On October 1, 2014, Perma Company acquired for cash all of the voting common stock of Street Company. The purchase price of Street "s itock equited the book value and fair value of Street's net assets. The peparate net income for each company, exeluding Perma's share of income from Street wane During September, Street paid $150,000 in dividends to its stoekholders. For the year ended December 31,2014 , Perma issued parent company only financial statements. These statements are not considered those of the primary reporting entity. Under the partial equity method, what is the amount of net income reported in Perma's income statement? a. $7,200,000. b. $4,650,000. c. $4,950,000. d. \$1,800,000