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During 2021, Logic Co. purchased 5,000 shares of IAT, Inc. for $14 per share and later in the year sold 1,250 of these shares for
During 2021, Logic Co. purchased 5,000 shares of IAT, Inc. for $14 per share and later in the year sold 1,250 of these shares for $16 per share. At December 31, 2021, the market price of Midi's stock was $15 per share. How much of a gain, or loss, should Logic Co. report on its 2021 income statement if the company classifies these shares as available-for-sale securities? (A 34) Group of answer choices $3,750 $7,500 $6,250 $2,500
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