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What the unrealized gain reported on nbd income statement

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Reference no: EM132594963

NBD Corporation purchased 18,000 shares (12%) of JET, Inc. stock on August 14, 2020 paying $27 per share.

NBD Corporation sold shares of the JET, Inc. stock as follows:

July 17, 2021: sold 3,000 shares for $29 per share
September 6, 2022: sold 7,000 shares for $31 per share

The year-end market values of the JET, Inc. stock were as follows:

December 31, 2020: market value was $25 per share
December 31, 2021: market value was $26 per share
December 31, 2022: market value was $33 per share

Question 1: The unrealized gain reported on NBD's 2022 income statement related to its investment in JET, Inc. stock was equal to:

Group of answer choices

Option 1: $14,000

Option 2: $28,000

Option 3: $35,000

Option 4: $41,000

Option 5: $48,000

Option 6: $49,000

Option 7: $56,000

Option 8: $108,000

Option 9: none of the above choices are correct

Reference no: EM132594963

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