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gimbel owns 10,000 shares, representing 50% ownership of yelene. its investment accont at the beginning...

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Accounting

gimbel owns 10,000 shares, representing 50% ownership of yelene. its investment accont at the beginning of 2010 is at $200,000. In 2010, yelene has income of $100,000 and pays dividends of $60,000. at december 31,2010 gimbel seels 8,000 hsares to XYZ corp for $300,000

A) what is teh gain or loss to Gimbel on the sale of the shares

B) what is the balance in investment account at December 31,2010 after the sale

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