Minsk Corporation's Shareholders' Equity Section at December 31, 2019 Was

Multiple Choice

Minsk Corporation's shareholders' equity section at December 31, 2019 was: Common shares, $ 5 par value, authorized 1,200,000 shares; During 2020, Minsk sold 30,000 treasury shares at $ 10 per share. No other similar transactions occurred during 2020. What amount should be reported for this transaction on the 2020 income statement?

A) $ 0
B) $ 60,000 gain from sale
C) $ 60,000 comprehensive income
D) $ 20,000 gain from sale and $ 40,000 contributed surplus