Use the DuBois Corporation data in question 2. DuBois sold the Scotiabank shares for \(\$ 40,000\) the following year. DuBois's income statement should report

a. unrealized gain of \(\$ 4,000\).

b. gain on sale of \(\$ 9,000\).

c. gain on sale of \(\$ 5,000\).

d. investments of \(\$ 40,000\).

Question 2

DuBois Corporation purchased a non-strategic investment (In 1,000 shares of Scotiabank (BNS) for \(\$ 31\) per share. On the next balance sheet date, BNS is quoted at \(\$ 35\) per share. DuBois's balance sheet should report

a. unrealized loss of \(\$ 4,000\)

b. unrealized gain of \(\$ 31,000\).

c. investments of \(\$ 31,000\).

d. investments of \(\$ 35,000\)