12. On December 31, 2006, Nance Co. purchased equity securities as trading securities. Pertinent data are as follows: Security Cost Fair Value At 12/31/07 A $132,000 $117,000 B $168,000 186,000 C $288,000 258,000 On December 31, 2007, 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, 2007? Answer: $27,000 loss. What formula or steps do I follow to arrive at $27,000 loss