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Goofy Inc. bought 15,000 shares of Crazy Co.'s stock for $202,000 on May 5, 2012, and classified the stock as available for sale. The market

Goofy Inc. bought 15,000 shares of Crazy Co.'s stock for $202,000 on May 5, 2012, and classified the stock as available for sale. The market value of the stock declined to $128,000 by December 31, 2012. Goofy reclassified this investment as trading securities in December of 2013 when the market value had risen to $168,000. What effect on 2013 income should be reported by Goofy for the Crazy Co. shares?

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