On January 3, 2018, Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2018, Thomas reported net income of $300,000 and paid dividends of $100,000. On January 4, 2019, Roberts sold 15,000 shares for $800,000. What is the appropriate journal entry to record the sale of the 15,000 shares?

A)	Cash	800,000
	Investment in Thomas		800,000
B)	Cash	800,000
	Investment in Thomas		780,000
	Gain on sale of investment		20,000
C)	Cash	800,000
	Loss on investment	12,000
	Investment in Thomas		812,000
D)	Cash	800,000
	Investment in Thomas		790,000
	Gain on sale of investment		10,000
E)	Cash	800,000
	Loss on sale of investment	15,000
	Investment in Thomas		815,000

Select one:

A.

C Above.

B.

D Above.

C.

A Above.

D.

E Above.

E.

B Above.