Puppy, Inc. acquired the following investment in Cookie Enterprises on January 1, 2019.Puppy Inc.'s investment provides it an opportunity to have significant influence over Cookie and so it accounts for the Cookie Investment under the equity method. Acquisition Value $5,000,000 Percentage of outstanding shares acquired 35% Book value of Cookie at date of acquisition $8,000,000 Any difference between acquisition and fair market values is attributable to fixed assets with aremaining useful life of 5 year During 2019, Cookie Enterprises reported the following: Net Income $2,500,000 Dividends declared and paid $1,050,000