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On June 27, 2021. Cara Van Travel distributed to its common shareholders 450.000 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 450.000 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 $2.50 per share. Immediately after the distribution, the market price of Noring's stock was $3.00 per share. In its income statement for the year ended June 30, 2023, what amount should Noring report as gain on disposal of the stock ignore taxes)? Multiple Choice $1,350,000 $1125.000 0 0 O $225.000 0

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