QUESTION 24 On its December 31, 2013, balance sheet, Quinn Co. reported its investment in availablefor sale securities, which had cost $600,000, at fair value of $550,000. At December 31, 2014, the fair value of the securities was $585,000. What should Quinn report on its 2014 Income statement as a result of the increase in fair value of the investments in 2014? a. 50 b. Unrealized loss of $15.000. c. Realired gain of $35,000 d. Unrealized gain of $35,000 QUESTION 25 When identifying the contract with customers you: a, apply revenue guidance when there is no commercial substance b. disregard revenue guidance when the contract is wholly unperformed Gapply revenue guidance when the parties have not approved the contract d. disregard revenue guidance when each party can unilaterally terminate the contract with compensation