Santana purchased 200 shares of Neffer,Inc.Common Stock on November 13,2016,for $3,400 and paid a $200 commission.On December 28,2016,Santana received a $2 per share cash dividend from Neffer.On June 17,2017,Neffer declares and distributes a 2 for 1 stock split.On August 4,2017,Santana purchased an additional 300 shares of Neffer,Inc.Common Stock for $4,200 plus a $300 commission.On November 22,2017,Santana sells 500 shares of Neffer,Inc.stock for $6,000 and pays a $400 commission on the sale.Santana's gain (loss) on the sale is
A) $500 loss
B) $500 gain
C) $2,700 loss
D) $2,000 gain
E) $3,600 loss
Correct Answer:
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