Corey Co.'s income statement accounts for the year ended December 31, Year 2, included the following:Sales$800,000Cost of sales320,000Administrative expenses80,000Interest expenses10,000Other InformationAvailable-for-sale securities held by the company had fair values of $250,000 and $300,000on December 31, Year 1, and December 31, Year 2, respectively. On December 31, Year 2,70,000 shares of common stock, $1.00 par, were outstanding. Corey repurchased25,000 shares on June 1, Year 2. Corey's enacted tax rate for the current and future years is 30%.Corey's comprehensive income isA.$308,000B.$425,000C.$323,000D.$440,000
