On January 1,2008,Posten Company Purchased 10,000 Shares of Toma Company

On January 1,2008,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 2008 and 2009.Toma's net income was $190,000 and $270,000 for 2008 and 2009 respectively.The January 1,2010 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)
$\begin{array}{llr} \text { Cash } &85,000\\ \text { Loss on Sale of Investments } &110,000\\ \text { Long-Term Investments} &&195,000\end{array}$

B)
$\begin{array}{llr} \text { Cash } &85,000\\ \text { Gain on Sale of Investments.} &&57,370\\ \text { Long-Term Investments } &&27,630\end{array}$

C)
$\begin{array}{llr} \text { Cash } &85,000.00\\ \text { Gain on Sale of Investments.} &&76,195.75\\ \text { Long-Term Investments } &&8,804.25\end{array}$

D)
$\begin{array}{llr} \text { Cash } &85,000\\ \text { Gain on Sale of Investments.} &&5,620\\ \text { Long-Term Investments } &&79,380\end{array}$


E)
$\begin{array}{llr} \text { Cash } &85,000\\ \text { Gain on Sale of Investments.} &&5,000\\ \text { Long-Term Investments } &&80,000\end{array}$