ABC Corporation purchased 1,000 shares of BAC common stock at $70 per share plus $3,000 brokerage fees as a short-term investment. All these shares were subsequently sold at $80 per share less $3,400 brokerage fees. The cost of the securities purchased and gain or loss on the sale were: Cost Gain or Loss a. $70,000 $10,000 gain b. $70,000 $3,600 gain c. $73,000 $1,600 gain d. $73,000 $3,600 gain