Question: On September 1 5 , 2 0 2 3 , Marvel Inc. purchased a call option for $ 5 0 0 from RDC Investments to

On September 15,2023, Marvel Inc. purchased a call option for $500 from RDC Investments to purchase 1,500 MBO shares at $75 per share and the option expires on December 31,2023. On November 30,2023, the shares are valued at $95, and the options are trading at $30,200. Marvel chooses to settle the option on December 1,2023.
Instructions
a) Record all of Marvel's entries associated with this call option purchase and subsequent settlement.
b) What is the effect on Marvel's net income resulting from the call option?
On September 15,2023, Marvel Inc. purchased a call option for $500

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