Financial Accounting Question give me answer Hawk Corporation purchased 10,000 shares ofDiamond Corporation stock in 2013 for $60 pershare and classified the investment as securitiesavailable for sale. Diamond's market value was$74 per share on December 31, 2014 and $100 onDecember 31, 2015. During 2016, Hawk sold allof its Diamond stock at $145 per share. In its2016 income statement, Hawk would report:a. A gain of $850,000b. A gain of $450,000c. A loss of $400,000d. A gain of $1,250,000

Step 1: Define StocksIn business and finance, stocks refer to the securities issued by the company…

Answered: Hawk Corporation purchased 10,000…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 18P

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