Instrument Corporation has the following investments which were held throughout 20142015:

Fair Value

Cost 12/31/14 12/31/15

Trading $600,000 $800,000 $760,000

Available-for-sale 600,000 640,000 720,000

What amount of gain or loss would Instrument Corporation report in its income statement for the year ended December 31, 2015 related to its investments?

a. $40,000 gain.

b. $40,000 loss.

c. $280,000 gain.

d. $160,000 gain.

What amount would be reported as accumulated other comprehensive income related to investments in Instrument Corporations balance sheet at December 31, 2014?

a. $80,000 gain.

b. $120,000 gain.

c. $40,000 gain.

d. $240,000 gain.