On January 1, 2010, Lightner bought 20, 000 shares (5% ownership)of Winter Corp.common stock for $360, 000.On May 3, 2010, Winter declared and distributed a 50% stock dividend.On September 1, 2010, Lightner sold 2, 000 shares of its investment in Winter stock for $21, 400.
Required:
Compute the amount of gain (loss)on the sale of this stock.

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The Answer of On January 1, 2010, Lightner bought 20, 000 shares (5% ownership)of Winter Corp.common stock for $360, 000.On May 3, 2010, Winter declared and distributed a 50% stock dividend.On September 1, 2010, Lightner sold 2, 000 shares of its investment in Winter stock for $21, 400.
Required:
Compute the amount of gain (loss)on the sale of this stock.

On January 1, 2010, Lightner Bought 20, 000 Shares (5