Pacquired 70% of S. during the year, S reported net loss 10000 JD and declared dividends 4000 JD. P uses equity method. The eliminating entry for equity income: Select one: : O a. Dr. Investment 7000 Cr. Equity income 7000 O b. Dr. Equity income 7000 Cr. Investment 7000 O c. Dr. Equity income 4000 Cr. Investment 4000 d. Dr. Investment 2800 Cr. Equity income 2800