On November $1,2020,$ Fashionista, Inc. purchased $2,000$ shares of Everyday Couture, Inc. for $$30,000.$ Everyday Couture shares are actively traded. The per share stock prices were:

November $1,2020$ $$15\mathrm{.}00$

December $15,202014\mathrm{.}50$

December $31,202016\mathrm{.}00$

Fashionista$$s shares represent a $1\%$ interest in Everyday Couture. Fashionista does not have significant influence over Everyday Couture.

On December $15,2020,$ Fashionista sold $500$ shares of Everyday Couture at the trading price. Fashionista adjusts the Fair Value Adjustment Account at year$-$end only.

What is the net impact on the income statement for the year ended December $31,2020,$ related to all of the Fashionista$$s investment activities?

On November $1,2020,$ Fashionista, Inc. purchased $2,000$ shares of Everyday Couture, Inc. for $$30,000.$ Everyday Couture shares are actively traded. The per share stock prices were:

November $1,2020$ $$15\mathrm{.}00$

December $15,202014\mathrm{.}50$

December $31,202016\mathrm{.}00$

Fashionista$$s shares represent a $1\%$ interest in Everyday Couture. Fashionista does not have significant influence over Everyday Couture.

On December $15,2020,$ Fashionista sold $500$ shares of Everyday Couture at the trading price. Fashionista adjusts the Fair Value Adjustment Account at year$-$end only.

What is the net impact on the income statement for the year ended December $31,2020,$ related to all of the Fashionista$$s investment activities?

$$1,250$ gain

$$1,000$ gain

$$1,250$ loss

$$250$ loss