At the end of its first year, the trading securities portfolio consisted of the following ordinary shares. 
In the following year, the Benes ordinary shares are sold for cash proceeds of $58,000. The gain or loss to be recognized on the sale is a
A) gain of $4,200.
B) loss of $2,000.
C) gain of $2,200.
D) loss of $400.
Correct Answer:
Verified
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