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7. On January 5, 2019, Prince Company acquired in cash 3,000 shares of ABC Inc., to keep as short-term marketable securities, at a price of

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7. On January 5, 2019, Prince Company acquired in cash 3,000 shares of ABC Inc., to keep as short-term marketable securities, at a price of $8.7 per share. To acquire these shares, Prince Company paid additional $900 for commission fees. On April 9, 2019, Prince Company sold 2,000 of these shares for $9.2 per share. Prince Company also paid $250 commission fees for this sale. The sale of marketable securities will result in: * (3 Points) Gain on sale of investment for $650 Gain on sale of investment for $400 Loss on sale of investment for $150 Gain on sale of investment for $150

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