Question: Adams Apples holds 1 000 shares of General Electric common stock
Adams Apples holds 1,000 shares of General Electric common stock. The stock was initially purchased in July 2014. On December 31, 2014, and December 31, 2015, the market value of the stock is $18 and $20 per share, respectively. What is the appropriate reporting category for this investment, and at what amount will Adams Apples report it in the 2015 balance sheet?
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