Assume that Wasley Company purchases 12,000 common shares of Pincus Company for \(\$ 12\) cash per share. During the year, Wasley receives a cash dividend of \(\$ 1.10\) per common share from Pincus, and the year-end market price of Pincus common stock is \(\$ 13\) per share. How much income does Wasley report relating to this investment for the year if it accounts for the investment as:

a. Available-for-sale investment

b. Trading investment