Name: Drande im Fadden Class: Dates ID: A Extra Credit ACG 2011 Chapetr 15 Other 1. Skyline, Inc. owned a portfolio of available-for-sale securities during 2012. The cost and fair value of this portfolio on December 31, 2012, was as follows: Name Number of Shares Total Cost Total Fair Valge Blackstone, Inc. 400 $4,000 $5,200 Flagler Company 200 3.000 2.700 Patternson Corporation 600 7.500 9,800 Total $14,500 $17,700 The Valuation Allowance for Avaiable for Sales Investments had a $2,500 debit balance prior to wdjustment Required: What is the amount of the increase (decrease) in Net Income caused by the entry to record the adjustment of the available-for-sale security portfolio to fair value on December 31, 2012? $