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Sports Spectacular purchased 1,200 shares (8%) of stock in The Athletic Warehouse for $50 per...

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Question

Accounting

Sports Spectacular purchased 1,200 shares (8%) of stock in The Athletic Warehouse for $50 per share. By the end of the year, the stock price has increased to $52 per share. How would the change in stock price affect Sports Spectacular's net income?

Multiple Choice

Increase net income by $62,400.

Increase net income by $60,000.

Increase net income by $2,400.

No effect.

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