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Urgent help During 2020, Pharoah Company purchased 72000 shares of Sheridan Corporation common stock for $1180000 as an equity investment. The fair value of these

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During 2020, Pharoah Company purchased 72000 shares of Sheridan Corporation common stock for $1180000 as an equity investment. The fair value of these shares was $1128000 at December 31,2020 . Pharoah sold all of the Sheridan stock for $18 per share on December 3,2021, incurring $48000 in brokerage commissions. Pharoah Company should report a realized gain on the sale of stock in 2021 of $120000.$116000.$168000.$68000

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