On 30 September 20X6 MC entered into a speculative futures contract to buy 100 ounces of gold on 31 March 20X7 at a price of $1,300 per ounce. MC intends to settle the contract net and will not take delivery of gold. At 31 December 20X6, MC's year end, the price under a futures contract for purchasing gold with a settlement date of 31 March 20X7 was $1,370 per ounce. How would the futures contract be recorded in MC's financial statements for the year ended 31 December 20X6?