Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2010 for $54 per share and classified the investment as securities available for sale. Diamond's market value was $83 per share on December 31, 2011 and $109 on December 31, 2012. During 2013, Hawk sold all of its Diamond stock at $147 per share. In its 2013 income statement, Hawk would report:

rev: 04_12_2013_QC_29255

A loss of $550,000.

A gain of $1,480,000.

A gain of $930,000.

A gain of $380,000.