On February 15, Jewel Company buys 6,300 shares of Marcelo Corp. common stock at $28.70 per share plus a brokerage fee of $480. The stock is classified as available-for-sale securities. This is the company’s first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $1.22 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.47 per share less a brokerage fee of $335. The fair value of the remaining shares is $29.67 per share. The impact on Jewel’s net income as a result of its investment in Marcelo Corp. was a(n) (Round your intermediate dollar values to the nearest dollar amount):

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To determine the impact on Jewel Companys net income as a result of its investment in Marcelo Corp w... View the full answer