Communications Inc. reported trading investments at their fair value of $255 million on its year-end statement of

Question:

Communications Inc. reported trading investments at their fair value of $255 million on its year-end statement of financial position. These securities were purchased earlier in the year at a cost of $245 million.
(a) How should the difference between these two amounts be recorded and reported?
(b) Would your answer differ if the fair value of these securities could not be determined?