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A not-for-profit hospital purchased an equity security for $150,000 on September, 2008. When it prepared its 2008 financial statements, the security had a fair value
A not-for-profit hospital purchased an equity security for $150,000 on September, 2008. When it prepared its 2008 financial statements, the security had a fair value of $145,000. It sold the security for $160,000 in 2009. What was the net effect of the sale of the security on the hospital's net assets in the year 2009?
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