Sports International purchased 1,100 shares of stock in The Gaming Warehouse for $20 per share. The investment is properly recorded using the equity method. By the end of the year, the stock price has increased to $22 per share. How would the change in stock price affect Sports International's net income under the equity method?

Sports International purchased 1,100 shares of stock in The Gaming Warehouse for $20 per share. The investment is properly recorded using the equity method. By the end of the year, the stock price has increased to $22 per share. How would the change in stock price affect Sports International's net income under the equity method? Multiple Choice Increase net income by $24,200. Increase net income by $22,000. Increase net income by $2,200. No effect. O