Question 8()

Richland Enterprises purchased three trading securities during the calendar year 2014. The financial statements on December 31, 2014 reflected an $8,000 credit balance in the Fair-Market-Value-Adjustment-Trading Securities account. There was not any change during the calendar year 2015 in the composition of Richland Enterprises portfolio related to the trading securities. The data for calendar year end 2015 is listed below:

Security	Cost	Market Value at December 31, 2015
ABC	$240,000	$252,000
MNO	$180,000	$160,000
XYZ	$320,000	$314,000
Total	$740,000	$726,000

What is the amount, if any, to record as a loss or gain for the securities on the income statement for the year ending December 31, 2015?

Your answer is to be typed as follows if it is a gain then type the amount, such as if you compute $20,000 as a gain then type 20,000 if it is a loss, then type the amount, such as if you compute $20,000 as a loss then type -20,000.