Question 49 Wiew Policies Current Attempt in Progress Coronado Corporation purchased 1100 shares of Sandhill common stock ($50 par) at $80 per share as a short-term investment. The shares were subsequently sold at $77 per share. The cost of the securities purchased and gain or loss on the sale were Cost Gain or Loss $55000 $3300 loss $88000 $3300 loss O $55000 $3300 gain $88000 $3300 gain Question 47 View Policies Current Attempt in Progress On January 1, 2020, Waterway Corporation purchased 25% of the common stock outstanding of Pharoah Corporation for $285000. During 2020, Pharoah Corporation reported net income of $85000 and paid cash dividends of $36000. The balance of the Stock Investments --Pharoah account on the books of Waterway Corporation at December 31, 2020 is 5297250 $285000 $370000 $321000 Attempts: 0 of 1 used Submit Answer Prev Next > Your grade has been recorded in the Gradebook Thu Apr 16, 2020, 7:4407 PM America/New York-04.00