Question: Question 1 Chapter 16 Call Option On September 15, 2023, Marvel Inc. purchased a call option for $500 from RDC Investments to purchase 1,500 MBO

Question 1 Chapter 16 Call Option On September 15, 2023, Marvel Inc. purchased a call option for $500 from RDC Investments to purchase 1,500 MBO shares at 575 pershare and the option cxpires on December 21, 2023, 0n Movember 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

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