Current Attempt in Progress

Waterway Corporation purchased $1150$ shares of Pharoah common stock $($ $$50$ par$)$ at $$82$ per share as a short$-$term investment. The shares were subsequently sold at $$78$ per share. The cost of the securities purchased and gain or loss on the sale were

Cost $,$ Gain or Loss

$$57500,$$$4600$ loss

$$57500,$$$4600$ gain

$$94300,$$$4600$ loss

$$94300,$$$4600$ gain