JP Morgan Chase carries portfolios of short-term equity investment securities. At the end of 2014 and 2013,
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JP Morgan Chase carries portfolios of short-term equity investment securities. At the end of 2014 and 2013, the securities were valued at $747 billion and $728.7 billion, respectively. The investments compose about 30 percent of the company’s total assets as of December 31, 2014. Unrealized gains during 2014 totaled $84.57 million.
REQUIRED:
Compute the net increase in the account short-term equity investments and the income statement effect during 2014.
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