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Compute the gain or loss for income statement

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Question - Gold Company purchased marketable equity security to be held as "trading" for P5,000,000, 000 last January 1, 2019. The company paid transaction cost amounting to P200,000.

The securities had a market value of P5,500,000 on December 31, 2019 and the transaction cost that would be incurred on sale is estimated at P100,000. No securities were sold during 2019.

Compute the gain or loss for 2019 income statement?

Reference no: EM132940442

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