On December 29, 2009, Greer Co. sold an equity security that had been purchased on January 4, 2008. Greer owned no other equity securities. An unrealized holding loss was reported in the 2008 income statement. A realized gain was reported in the 2009 income statement. Was the equity security classified as available-for-sale and did its 2008 market price decline exceed its 2009 market price recovery?

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The Answer of On December 29, 2009, Greer Co. sold an equity security that had been purchased on January 4, 2008. Greer owned no other equity securities. An unrealized holding loss was reported in the 2008 income statement. A realized gain was reported in the 2009 income statement. Was the equity security classified as available-for-sale and did its 2008 market price decline exceed its 2009 market price recovery?