At the end of year 1 lane co held trading securities that

Reference no: EM13483797

At the end of Year 1, Lane Co. held trading securities that cost $86,000 and had a year-end market value of $92,000. During Year 2, all of these securities were sold for $104,500. At the end of Year 2, Lane had acquired additional trading securities that cost $73,000 and had a year-end market value of $71,000. What is the impact of these stock activities on Lane's Year 2 income statement?

Reference no: EM13483797

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