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What amount of realized gain or loss KK Corporation report

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Question - On March 1, 2020 K.K. Corporation purchased 2,000 shares of Potter Wholesale for $35 per share. Based on the percentage of outstanding stock purchased, K.K. Corporation uses the fair value method to account for the investment. On December 31, 2020 the shares of Potter Wholesale had a current market value of $32 per share. What amount of realized gain or loss would K.K. Corporation report on its 2021 income statement if K.K. Corporation sells the 2,000 shares of Potter Wholesale on July 1, 2021 for $34 per share?

Reference no: EM133132919

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