1. During 2017, ABC Company purchased marketable equity securities as a short-term investment and classified them as held for trading securities. The cost and fair value at December 31, 2017, were as follows:

Security Cost Fair Value

X 200 shares 8,400 10,200

Y 2,000 shares 51,000 45,900

Z 4,000 shares 94,500 88,500

ABC sold 1,000 shares of Company Y stock on March 16, 2018, for P25 per share, incurring P1, 200 in brokerage commission and taxes. On the sale, ABC should report a realized loss of

• Answer not given
• P 1,700
• P 850
• P 0
• P 500