Question
On its December 31, 2024, balance sheet, Sheridan Company reported its investment in equity securities, which cost $660000, at fair value of $594000. At December
On its December 31, 2024, balance sheet, Sheridan Company reported its investment in equity securities, which cost $660000, at fair value of $594000. At December 31, 2025, the fair value of the securities was $622000. What should Sheridan report on its 2025 income statement as a result of the increase in fair value of the investments in 2025?
$0
Realized gain of $28000
Unrealized loss of $38000
Unrealized gain of $28000
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel G. Short
3rd Edition
0072458836, 978-0072458831
