Equity Method Net Income Recognition

ABC Corporation acquired a 30% stake in XYZ Inc. on January 1, 2020, for $1,500,000. During 2020, XYZ Inc. reported net income of $600,000 and declared dividends amounting to $200,000. Under the equity method, how much should ABC Corporation recognize as its share of XYZ Inc.'s net income for the year 2020?