Hawk Corporation purchased 10,000 shares of Diamond Corporation stock in 2013 for $61 per share and classified the investment as securities available for sale. Diamond's market value was $79 per share on December 31, 2014 and $98 on December 31, 2015. During 2016, Hawk sold all of its Diamond stock at $144 per share. In its 2016 income statement, Hawk would report: A loss of $370,000. A gain of $1,200,000. A gain of $830,000. A gain of $460,000.