Incorrect

1.

At the beginning of Year 1, Jimbo Company purchased a portfolio of trading securities for $65. At the end of Year 1, the portfolio had a value of $52. In the middle of Year 2, the entire portfolio is sold for $74. What is the amount of unrealized gain or loss for Year 2?

$13 unrealized gain

$13 unrealized loss

$9 unrealized gain

$9 unrealized loss

$22 unrealized gain

$22 unrealized loss

no unrealized gain or unrealized loss