On January 7, 2018, Webb Industries purchased 1,000 shares of Class A common stock in Bloomberg Corporation for $50,000. Webb does not have significant influence or control over Bloomberg. Although Class A shares are not actively traded, Class B shares are traded and are nearly identical aside from being publicly traded At the end of 2018. Class B shares are trading for $55 per share. Webb makes the appropriate election to measure the investment based on observable price changes for similar securities. On December 12, 2019, Webb Industries sells the Bloomberg stock for $56,000. What is the gain that is reported on the sale of Bloomberg Corporation in 2019? A. $0 B. $1,000 C. $5,000 OD. $6,000