Question: An equity security, whose fair value is currently less than cost, is classified as available-for-sale but is to be reclassified as trading. Instructions Answer the

An equity security, whose fair value is currently less than cost, is classified as available-for-sale but is to be reclassified as trading. Instructions Answer the following question. What is the effect upon carrying value and earnings for each of the situation presented?

Last time I asked this the answer was as if the security was already classified trading. I would like to get a proper answer.

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