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On January 3, 2021, Roberts Company purchased 30% of the 100,000 shares of common stock...

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Accounting

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

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