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Koomson Corporation purchased 1,200 shares of common stock, $32 par, for $48,000. Several months later, Koomson sold 450 of the shares for $52 per share.

Koomson Corporation purchased 1,200 shares of common stock, $32 par, for $48,000. Several months later, Koomson sold 450 of the shares for $52 per share. What is the amount of gain or loss on the sale?

a.
$5,400 loss

b.
$9,600 loss

c.
$9,000 gain

d.
$5,400 gain

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Question

Koomson Corporation purchased 1,200 shares of common stock, $32 par, for $48,000. Several months later, Koomson sold 450 of the shares for $52 per share.

Koomson Corporation purchased 1,200 shares of common stock, $32 par, for $48,000. Several months later, Koomson sold 450 of the shares for $52 per share. What is the amount of gain or loss on the sale? a. $5,400 loss b. $9,600 loss c. $9,000 gain d. $5,400 gain

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Koomson Corporation purchased 1,200 shares of common stock, $32 par, for $48,000. Several months later, Koomson sold 450 of the shares for $52 per share. What is the amount of gain or loss on the sale?

a.
$5,400 loss

b.
$9,600 loss

c.
$9,000 gain

d.
$5,400 gain