Question: ) On January 2 , 2 0 2 2 , Big Daddy Corporation purchased 1 2 % of Ranger Corporation's common stock for $ 5

) On January 2,2022, Big Daddy Corporation purchased 12% of Ranger Corporation's common stock for $50,000. Ranger's net income for the year ended December 31,2022 was $50,000. During 2022, Ranger declared and paid a dividend of $60,000. On December 31,2022, the fair value of the Ranger stock owned by Big Daddy had increased to $70,000. How much should Big Daddy show in the 2022 income statement as income from this investment?

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