Martin corporation purchased 2 securities during the year. 3,000 shares of common stock, purchased for $15,000 and valued at fair value of $21,000 as of December 31, 2014. 1,000 shares of preferred stock, purchased for $7,000 and valued at fair value of $21,000 as of December 31, 2020 . Assuming the securities are classified as available-for-sale, what is the amount of gain or (loss) reported on the income statement for these securities for 2014?

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Answer rating: 100% (QA)

Solution amount of gain or loss reported on th... View the full answer