a. 34. Grady Company purchases 400 shares of Terence Company for $4 each on May 1, 2016. On December 31, 2016, Terence stock is selling for $5 per share. At what amount will this investment be reported on Grady's balance sheet? $400 b. $1,600 c. $2,000 d. $100 e. $500 35. Fife Corporation purchased 800 shares of Legacy Company for $2 per share on June 8, 2012. On December 31, 2012, Legacy's stock was selling for $5 per share. On May 16, 2013, Fife sold all of its shares of Legacy for $3 per share. What is the amount of gain or loss on the sale? a. $800 gain b. $1,600 loss c. $2,400 gain d. $100 gain e. $3,200 loss