Question: Delta Corporation buys and sells debt securities which it classifies as trading securities. The company's fiscal year ends on December 31. On December 27, 2021,

Delta Corporation buys and sells debt securities which it classifies as trading securities. The company's fiscal year ends on December 31. On December 27, 2021, Delta purchased Victory Communications bonds at par for $600,000. At December 31, the bonds had a fair value of 608,000. On January 3, 2022, the bonds were sold for $620,000. The impact on 2022 net income as a result of this investment would be: $0 $20,000 increase O $12,000 increase O $8,000 increase

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