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Master Putter Tennis Academy held investments in trading securities with a fair value of S5S,000 at December 31 , 201 These investments cost Master

Master Putter Tennis Academy held investments in trading securities with a fair value of S5S,000 at December 31 , 201 These investments cost Master Putter $48,000 on January 1, 2014. What is the appropriate amount for Master Putter to report for these investments on the December 31, 2014, balance sheet? $48,000 $55,000 $7,000 gain cannot be determined from the data given

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