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What amount of gain or loss would oriole corporation report

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Reference no: EM132999025

Oriole Corporation has the following investment which was held throughout 2021-2022:

Fair Value                              Cost                    12/31/21                      12/31/22

Equity investment             $828000               $1119000                 $1050000

Problem 1: What amount of gain or loss would Oriole Corporation report in its income statement for the year ended December 31, 2022 related to its investment, if the fair value method of accounting was used?

Option 1: $291000 gain.

Option 2: $222000 gain.

Option 3: $69000 gain.

Option 4: $69000 loss.

Reference no: EM132999025

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