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Question(s) / Instruction(s):

An analysis of Korman Corporations Investment in Marketable Securities account during 2009 disclosed the following: Korman s 2009 income statement included a $40,000 gain on sale of marketable securities and $30,000 dividend income from marketable securities. All payments and proceeds relating to marketable securities transactions were in cash. Refer to the above data. The cash proceeds received by Korman Corporation in 2009 for the sale of marketable securities was: a. $160,000. b. $280,000. c. $230,000. d. $240,000.

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