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Question 33 23 points Glass Company buys and sells securities which it typically classifies as available for sale. On December 15, 2018, Glass purchased
Question 33 23 points Glass Company buys and sells securities which it typically classifies as available for sale. On December 15, 2018, Glass purchased $100,000 of Abilene, inc shares and elected the for value option to account for the Abilene investment. As of December 31, 2018, the Abilene shares had a fair value of $105,000 in the 2018 financial statements Glass will show (gnore O An investment in Abilene of $100,000 O Other comprehensive income of $5,000 O Accumulated other comprehensive income of $105,000 O Investment income of $5,000 in its income statement
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