On December 31, 2020, Patel Company purchased debt securities as trading securities. Pertinent data at 12/31/21 is as follows: (1) Security (2) Cost (3) Fair Value (1) A (2) 132,000 (3) 119,000 (1) B (2) 172,000 (3) 186,000 (1) C (2) 288,000 (3) 263,000 What total amount of gain or loss on its securities should be included in Patel's income statement for the year ended December 31, 2021? $24,000 loss. $38,000 loss. O $25,000 loss. $1,000 gain.

What total amount of gain or loss on its securities should be included in Patel's income statement for the year ended December 31, 2021? $24,000 loss. $38,000 loss. $25,000 loss. $1,000 gain. What total amount of gain or loss on its securities should be included in Patel's income statement for the year ended December 31, 2021? $24,000 loss. $38,000 loss. $25,000 loss. $1,000 gain