Desno Corporation reports on a calendar-year basis. Its December 31, 2007 financial statements were issued on February 3, 2008. The auditor’s report was dated January 22, 2008. The following information pertains to Desno’s aggregate marketable equity.

Cost	$500,000
Market value, 12/31/07	400,000
Market value, 1/22/08	350,000
Market value, 2/3/08	300,000

How much should be reported on Desno’s balance sheet at December 31, 2007, for marketable equity securities?

A: $500,000

B: $400,000

C: $350,000

D: $300,000