Hawk Corporation purchased 1,000 Diamond Corporation bonds in 2015 for $500 per bond and classified the investment as securities available for sale. The value of the Diamond investment was $600 per bond on December 31, 2016, and $650 on December 31, 2017. During 2018, Hawk sold all of its Diamond investment at $700 per bond.

In its 2018 income statement, Hawk would report:

A) A gain of $50,000

B) A gain of $150,000

C) A gain of $200,000

D) No gain or loss would be reported at the time of the sale