On January 1, 2012, Berger Corporation paid 800,000 to purchase 40% of the outstanding stock of Oakley Company. Oakley Company…

On January 1, 2012, Berger Corporation paid 800,000 to purchase 40% of the outstanding stock of Oakley Company. Oakley Company reported net income of $200,00 for the year ending December 31, 2012 and paid cas dividends of $60,000 during 2012. On January 1, 2013, Berger Corporation sells its entire investment in Oakley Company for $1,100,000. Berger corporation will report an (n): a.) unrealized gain on the sale of $300,000 b.) unrealized gain on the sale of $244,000 c.) realized gain on the sale of $244,000 d.) realized gain on the sale of $300,000