Question 24 (1 point) Sox Corporation purchased a 40% interest in Hack Corporation for $1,500,000 on January 1. 2018, On November 1, 2018. Hack declared and paid $1 million in dividends. On December 31. Hack reported a net loss of $6 million for the year. What amount of loss should Sox report on its income statement for 2018 relative to its investment in Hack? $1.100.000 $2,400,000 $1,500,000 $1,600,000 Question 25 (1 point) Which of the following investment securities held by Zoogle Inc. may be classified as heid-to-maturity securities in its balance sheet? Long-term debenture bonds. Common stock Callable preferred stock. All of these answer choices are correct. Question 26 (1 point) Which of the following is not true when the fair value option is elected for an investment that would normally be accounted for under the equity method? No journal entry need be made to recognize the investor's portion of the Investee's net income Unrealized holding gains and losses on that investment are recognized in net income. No journal entry need be made to recognize the investor's portion of dividends paid by the investee. All of these answer choices are true