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Question 7 Sheridan Corporation has the following investment which was held throughout 2021-2022: Cost $940000 Fair Value 12/31/21 12/31/22 $1245000 $1190000 Equity investment What amount

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Question 7 Sheridan Corporation has the following investment which was held throughout 2021-2022: Cost $940000 Fair Value 12/31/21 12/31/22 $1245000 $1190000 Equity investment What amount of gain or loss would Sheridan Corporation report in its income statement for the year ended December 31, 2022 related to its investment, if the fair value method of accounting was used? $55000 loss. $305000 gain. $250000 gain. $55000 gain

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