please show all calculations

Please answer questions 8, 9, and 10 based on the following information: On February 1, 2009, Hills Company had 10,000 pounds of copper inventory costing $1.50 per pound; the market value per pound was $1.95 on this date. Hills entered into a futures contract to sell the 10,000 pounds of inventory during May 2009 at $1.98 per pound. 8. Which of the following statements is not true regarding the accounting for this futures contract? A. Hills has foregone the benefit of additional profits (the upside potential) if the price per pound of copper exceeds $1.98 during the month of May. B. Hills has eliminated the risk of reduced profits (the downside potential) if the price per pound of copper is less than $1.98 during the month of May. C. Hills gross profit in May will be $4,500 regardless of the actual price per pound in May. D. The value of the futures contract decreases as the market price per pound of copper inventory increases. 9. Which of the following statements is not true regarding the accounting for this futures contract? A. If the market price per pound of copper increases, the futures contract will decrease in value. B. Hills incurs market risk if the price of copper is different from $1.98. C. Hills gross profit in May will be $4,800 regardless of the actual price per pound in May. D. If the market price per pound of copper decreases the futures contract will increase in value. 10. Which of the following statements is not true regarding the accounting for this futures contract? A. If the market price per pound of copper increases there will be an unrealized loss on the futures contract and an unrealized gain on the copper inventory. B. If the market price per pound of copper decreases there will be an unrealized gain on the futures contract and an unrealized loss on the copper inventory. C.Hills gross profit in May will be $300 regardless of the actual price per pound in May. D. If the market price per pound of copper increases the futures contract will decrease in value