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What should forge include in net income for 2003

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Reference no: EM132318470

Question

On its December 31, 2002, balance sheet, the Forge Corporation reported the following as investments in marketable equity securities which are classified as available for sale: Investment in marketable equity securities at cost $500,000 Less: valuation allowance 40,000 = $460,000

At December 31, 2003, the market valuation of the portfolio was $490,000. What should Forge include in net income for 2003 as a result of the change in the market value of its investments?

Reference no: EM132318470

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