16, 2

Blossom Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 800 shares of Wade common stock (2\\%) for \\( \\$ 9,600 \\) cash. July 1 Received cash dividends of \\$1 per share on Wade common stock. Sept. 1 Sold 400 shares of Wade common stock for \\( \\$ 6,200 \\). Dec. 1 Received cash dividends of \\$1 per share on Wade common stock. Indicate how dividend revenue and the gain (loss) on sale should be reported in the income statement. Dividend revenue and the gain on sale of stock investments are reported under in the income st