Southeast Bank invests in trading securities and prepares quarterly financial statements. At the beginning of the fourth quarter of 2016, the bank held as trading securities 260 shares of Eglan Company common stock that originally cost $7,150. At that time, these securities had a fair value of $7,020. During the fourth quarter, the bank engaged in the following trading securities transactions Oct. 26 Purchased 400 shares of Farrell Company common stock for $36 per share Nov. 26 Sold 260 shares of Eglan common stock for $26 per share. Dec. 10 Purchased 410 shares of Gray Company common stock for $44 per share. On December 31, 2016, the quoted market prices of the shares were as follows: Eglan Company, $55 per share Farrell Company, $39 per share; and Gray Company, $43 per share