ZTC Purchased Shares of W Common on the Following Dates

ZTC purchased shares of W common on the following dates: $$\begin{array} { | l | r | } \hline \text { Purchases } & \text { Cash } \\\hline \text { January } 1,500 \text { shares at } \$ 3 &1,500 \\\hline \text { March } 30,200 \text { shares at } \$ 2 & 400 \\\hline \text { June } 20,100 \text { shares at } \$ 5 & 500 \\\hline \text { August } 30,50 \text { shares at } \$ 7 & 350 \\\hline\end{array}$$ The shares were designated FVTPL securities. ZTC then sold 150 of the March 30 shares that were purchased on September 9. The sale price was $7.00 per share. This sale should be recorded as follows (Round your intermediate calculations to two decimal places) : $\begin{array}{l}\begin{array}{|l|r|l|l|}\hline (1) &\text { Cash } & 1,050 \\\hline &\text { Investment in W stock } & & 1,000 \\\hline &\text { Gain on sale of investment } & & 50 \\\hline (2) &\text { Cash } & 1,050 \\\hline&\text { Inestment in w stock } & & 486 \\\hline &\text { Gain on sale of investment } && 564 \\\hline (3) & \text { Cash } & 1,050 & \\\hline &\text { Investment in W stock } & & 1,050 \\\hline (4) &\text { Cash } & 1,050 & \\\hline &\text { Investment in w stock } & & 400 \\\hline &\text { Gain on sale of investment } & & 650 \\\hline\end{array}\end{array}$

A) Choice 1
B) Choice 2
C) Choice 3
D) Choice 4