Martin Corporation purchased debt securities during Year 7 and classified them as trading securities Question 30 Not yet wered Points out of 3 Tagestion Security B Cost $40,000 70,000 28,000 Fair Value, 12/31/7 $49,000 66,000 39,000 All declines are considered to be temporary, How much gain will be recognized in net income by Martin Corporation in the December 31, Year 7, income statement relative to the portfolio? Select one: -0- O b$16,000 Oc$20,000 O d. None of these choices