13. Tulip Corp. purchased 300, 000 shares of common stock in Sherman Co. for $50 per share on jamiary 2, 2021, which represents 25% of Sherman Co.s outstanding shares. During 2021, Sherman Co paid cash dividends of 300, 000 and reported net income of $1,000,000. At of the end of 2021, Perman Ca's stock price had dropped to $49 per share. What should' appear on Tulip Corp.'s income statement in 2021 because of this investment?

a) $300,000

b) $225,000

c) $75,000

d) $250,000

14. Dring 2021. Aripe. hic. purchased 15,000 shares of IAT, Inc. for $34 per share and later in the yer said 3750 of these shares for $39 per share. At December 31, 2021, the market price of Midi's stock was $37 per share. How much of a gain, or loss, should Araipe, Inc, report on its 2021 income scoterest i the company classifies these shares as aval able for-sale securities?

a) $18.750

b) $33.750

c)$32.500

d) $63.750