Multiple Choice Question 115 On December 31, 2017, Pharoah Company purchased debt securities as trading securities. Pertinent data are as follows Fair Value Security Cost At 12/31/18 A $128800 168000 284800 $115000 182800 259000 On December 31, 2018, Pharoah transferred its investment in security C from trading to available-for-sale because Pharoah intends to retain security C as a long-term investment. What total amount of gain or loss on its securities should be included in Pharoah's income statement for the year ended December 31, 2018? $1000 gain. $24800 loss. $39600 loss. $25800 loss Click if you would like to Show Work for this question: Open Show Work