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Blossom Corporation has the following investment which was held throughout 2018-2019: Fair Value Cost 12/31/18 12/31/19 Equity investment $980000 $1290000 $1240000 What amount of gain

Blossom Corporation has the following investment which was held throughout 2018-2019:

Fair ValueCost12/31/18

12/31/19Equity investment

$980000

$1290000

$1240000

What amount of gain or loss would Blossom Corporation report in its income statement for the year ended December 31, 2019 related to its investment?

$50000 loss.

$260000 gain.

$310000 gain.

$50000 gain.

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