Securities were acquired as a short-term investment at a cost of £ 1200 on I May 1983. Investment income of £150 was received on the securities in December 1983. At the Balance Sheet date of 31 December 1983 the securities had a quoted market value of £ I 100.

The total net income from the securities during the year to 31 December 1983 and Balance Sheet value at that date was:

(a) £ 150 net income, Balance Sheet value £ I200;

(b) £50 net income, Balance Sheet value £ II 00;

(c) £150 net income, Balance Sheet value £1100 ;

(d) £50 net income, Balance Sheet value £1200 .