All of the following are true about selling a listed security "short against the box" except: (a) it may be done to arbitrage (b) it may be done to lock in a profit. (c) it is done to postpone taxes to a future date. (d) it can be done to hedge a long stock position.

Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?