At the end of its first year, the securities portfolio consisted of the following common stocks, all of which represent les then 20% ownership. 
In the following year, the Edmunds common stock is sold for cash proceeds of $57,000.The gain or loss to be recognized on the sale is a
A) gain of $1,200.
B) loss of $3,000.
C) gain of $10,600.
D) loss of $1,200.
Correct Answer:
Verified
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