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On June 27, 2021, Cara Van Travel distributed to its common shareholders 580,000 outstanding common shares of its investment in Constance Noring Pillows. The book

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On June 27, 2021, Cara Van Travel distributed to its common shareholders 580,000 outstanding common shares of its investment in Constance Noring Pillows. The book value on Van's books of Noring's $1 par common stock was $380 per share. Immediately after the distribution, the market price of Noring's stock was $4.30 per share. In its income statement for the year ended June 30, 2023, what amour should Noring report as gain on disposal of the stock (ignore taxes)? Multiple Choice O $2.204,000 O $2,494,000 $290,000 so

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