Rollin Corporation purchased $100$ bonds issued by Boyle Corp. and classifies the investment as trading securities$.$ Rollin should report these trading securities at

Question $5$ options:

Lower of cost or market, with holding gains included in earnings only to the extent of previously recognized holding losses.

Lower of cost or market, with holding gains and losses included in earnings.

Fair value, with holding gains and losses included in earnings.

Fair value, with holding gains included in earnings only to the extent of previously recognized holding losses.