Question: On January 1 , 2 0 2 1 , Jane Co . purchased 3 0 % of the 1 0 0 , 0 0 0

On January 1,2021, Jane Co. purchased 30% of the 100,000 shares of common stock of Pete Inc., paying $1,500,000. There was no goodwill or other cost allocation associated with the investment. Jane Co. has significant influence over Pete Inc. During 2021. Pete reported a net income of $300,000 and paid dividends of $100,000. On January 4,2022. Jane sold 15,000 shares for $800,000.
What is the gain/loss on the sale of the 15,000 shares?
$0.
$10,000 gain.
$12,000 loss.
$15,000 loss.
$20,000 gain.
On January 1 , 2 0 2 1 , Jane Co . purchased 3 0

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