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What total amount of gain or loss on its securities

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Show me how to caculate the following using this information. On December 31, 2007, Nance Co. purchased equity securities as trading securities. Pertinent data are as follows: Security for (a) cost is 132,000 with a fair value at 12/31/08 is $117.000; (b) cost is 168.000 with a fair value of 186,000; (c) cost is 288,000 with a fair value of 258,000.

On December 31, 2008, Nance transferred its investment in security C from trading to available-for-sale because Nance intends to retain security C as a long-term investment. What total amount of gain or loss on its securities should be included in Nance's income statement for the year ended December 31, 2008?

Reference no: EM132420638

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