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S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2018, S&L purchased Coca-Cola bonds for $980,000

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S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2018, S&L purchased Coca-Cola bonds for $980,000 and sold the the bonds on January 3, 2019, for $984,000. At December 31, the bonds had a fair value of $974,500. What pretax amounts did S&L include in its 2018 and 2019 net income as a result of this investment (ignoring interest)? Pretax Amount 2018 Gain 2019 Loss

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