On January 1,2011,Posten Company Purchased 10,000 Shares of Toma Company

On January 1,2011,Posten Company purchased 10,000 shares of Toma Company for $78,000 plus a broker's fee of $2,000.Toma Company has a total of 40,000 shares of common stock outstanding and it is presumed the Posten Company will have a significant influence over Toma.Toma declared and paid cash dividends of $0.93 per share in 2011 and 2012.Toma's net income was $190,000 and $270,000 for 2011 and 2012 respectively.The January 1,2013,entry on the books of Posten Company to record the sale of 4,500 shares of Toma Company stock for $85,000 cash should be:

A)
$\begin{array} { l cc } \text { Cash } \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots & 85,000\\\text { Loss on Sale of Investments }\ldots \ldots \ldots \ldots \ldots & 110,000 \\\quad \text { Long-Term Investments }\ldots \ldots \ldots \ldots \ldots & & 195,000\end{array}$
B)
$\begin{array} { l cc } \text { Cash } \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots & 85,000\\\quad \text { Gain on Sale of Investments }\ldots \ldots \ldots \ldots \ldots && 57,370 \\\quad \text { Long-Term Investments }\ldots \ldots \ldots \ldots \ldots & & 27,630\end{array}$
C)
$\begin{array} { l cc } \text { Cash } \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots & 85,000.00\\\quad \text { Gain on Sale of Investments }\ldots \ldots \ldots \ldots \ldots && 76,195.75 \\\quad \text { Long-Term Investments }\ldots \ldots \ldots \ldots \ldots & & 8,804.25\end{array}$
D)
$\begin{array} { l cc } \text { Cash } \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots & 85,000\\\quad \text { Gain on Sale of Investments }\ldots \ldots \ldots \ldots \ldots && 5,620 \\\quad \text { Long-Term Investments }\ldots \ldots \ldots \ldots \ldots & & 79,380\end{array}$
E)
$\begin{array} { l cc } \text { Cash } \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots & 85,000\\\quad \text { Gain on Sale of Investments }\ldots \ldots \ldots \ldots \ldots && 5,000 \\\quad \text { Long-Term Investments }\ldots \ldots \ldots \ldots \ldots & & 80,000\end{array}$