Instrument Corporation has the following investment which was held throughout 20182019 ()

Fair Value

Cost 12/31/18 12/31/19

Equity investment $900,000 $1,200,000 $1,140,000

What amount of gain or loss would Instrument Corporation report in its income statement for the year ended December 31, 2019 related to its investment?

) Rich, Inc. acquired 30% of Doane Corporation's voting stock on January 1, 2018 for $1,000,000. During 2018, Doane earned $400,000 and paid dividends of $250,000. Rich's 30% interest in Doane gives Rich the ability to exercise significant influence over Doane's operating and financial policies. During 2019, Doane earned $500,000 and paid cash dividends of $150,000 on April 1 and $150,000 on October 1. On July 1, 2019, Rich sold half of its stock in Doane for $660,000 cash.

A The carrying amount of this investment in Rich's December 31, 2018 balance sheet should be:

B What should the gain be on sale of this investment in Rich's 2019 income statement?