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On its December 31, 2017, balance sheet, Sheridan Company reported its investment in equity securities, which had cost $530000, at fair value of $504000. At
On its December 31, 2017, balance sheet, Sheridan Company reported its investment in equity securities, which had cost $530000, at fair value of $504000. At December 31, 2018, the fair value of the securities was $522000. What should Sheridan report on its 2018 income statement as a result of the increase in fair value of the investments in 2018?
$0.
Unrealized gain of $18000.
Realized gain of $18000.
Unrealized loss of $8000.
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