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Hawk Corporation purchased 10.000 shares of Diamond Corporation stock in 2013 for $60 per share and classified the investment as securities available for sale. Diamond's
Hawk Corporation purchased 10.000 shares of Diamond Corporation stock in 2013 for $60 per share and classified the investment as securities available for sale. Diamond's market value was $73 per share on December 31.2014 and $94 on December 31.2015. During 2016, Hawk sold all of its Diamond stock at $145 per share. In its 2016 income statement. Hawk would report A gain of $510,000. A loss of $340,000. A gain of $1,190,000. A gain of $850,000
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