Decker - Corporation Purchased 1,000 Ordinary Shares of Kent At $\$ 75$

Decker - Corporation purchased 1,000 ordinary shares of Kent at $\$ 75$ per share plus $\$ 3,000$ brokerage fees as a short-term investment. The shares were subsequently sold at $\$ 80$ per share less $\$ 3,400$ brokerage fees. The cost of the securities purchased and gain or loss on the sale were
$\begin{array}{lll}&\text { Cost }&\text {\quad\quad Gain or Loss }\\\end{array}$

A) $\begin{array}{lll}\text { } & \$ 75,000 & \$ 5,000 \text { gain } \\\end{array}$

B) $\begin{array}{lll}\text { } & \$ 75,000 & \$ 1,400 \text { loss } \\\end{array}$

C) $\begin{array}{lll}\text { } & \$ 78,000 & \$ 2,000 \text { gain } \\\end{array}$

D) $\begin{array}{lll}\text { } & \$ 78,000 & \$ 1,400 \text { loss }\end{array}$