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A year-end analysis of Valencia Inc.'s equity securities portfolio acquired in 2017 shows the following totals at December 31, 2017 for trading and non-trading securities:

A year-end analysis of Valencia Inc.'s equity securities portfolio acquired in 2017 shows the following totals at December 31, 2017 for trading and non-trading securities:

Trading Non-Trading

Securities Securities

Aggregate cost 1,800,000 2,200,000

Aggregate fair value 1,400,000 1,900,000

What amount of unrealized holding loss should Valencia report in its 2014 income statement?

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