Sports International purchased 1,500 shares of stock in The Gaming Warehouse for $30 per share. The investment is properly recorded using the equity method. By the end of the year, the stock price has increased to $32 per share. How would the change in stock price affect Sports International's net income under the equity method?

Sports International purchased 1,500 shares of stock in The Gaming Warehouse for $30 per share. The investment is properly recorded using the equity method. By the end of the year, the stock price has increased to $32 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 $48,000. Increase net income by $45,000. Increase net income by $3,000. O No effect