Recordedura 1 20 pointe Winston Corporation purchased 40 percent of the stock of Fulbright Company on January 1, 20x2. at underlying book value. During the period of January 20X2. through December 31, 20X4, the market value of Winston's investment in Fulbright's stock increased by $20.000 each year. The companies reported the following operating results and dividend poyments during the first three years of Intercorporate ownership: inton Corporation Tollbript Company Year operating Income Dividends t Inc Dividends $100,000 5.40.000 $70,000 $10,000 20x3 60.000 30,000 40,00 60,000 20X4 250,000 120,000 25,000 Required: Compute the net income reported by Winston for each of the three years, assuming it accounts for its investment in Fulbright by carrying the investment at for value, or using the equity method Answer is complete but not entirely correct. Not Income Year Fair Value 20x2 20X3 20x4 120.000 80,000 270 000 $ Equity Method 128.000 76.000 260.000