On December 1, the company purchased securities for $3,850. On December 31, the company still held the
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(a) $5,200 and
(b) $2,600. In addition, before considering the impact of the change in value of the securities, the net income for the company was $3,000. Compute net income assuming that the December 31 fair value of the securities was
(c) $5,200 and
(d) $2,600. Ignore income taxes. Assume that the securities are classified as trading?
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