What amount of gain or loss should cardwell report

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Question - Cardwell Corp began operations in 2018. An analysis of Cardwell's debt securities portfolio acquired in 2018 shows the following totals at December 31, 2018 for trading and available-for-sale debt securities:

Trading Available-for-Sale Securities Aggregate cost $194,000 $425,000

Aggregate fair value 172,000 427,000

Required -

1. What amount of gain or loss should Cardwell report in its 2018 income statement?

2. What amount of gain or loss should Cardwell report in its 2018 other comprehensive income?

Reference no: EM133161734

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