Question $10$

$0\mathrm{.}5$ pts

During $20$X$1,$ QuizCo $($not a financial institution$)$ paid $$100,000$ for the stock of various publiclytraded companies to be held as investments. QuizCo's ownership represents less than $1\%$ of each of these companies. At the end of the year, the stock is worth $$80,000.$ What impact will the decline in value have on QuizCo's financial statements?

$$ REDUCE net Income by $$20,000$

$$ NO EFFECT on net income

$$ INCREASE net income by $$20,000$

$$ None of the above.