Brightney purchased common shares of Company A and B for $10,000 and $12,000,respectively on 12/15.Brightney intends to sell these securities within 30 days.At 12/31,Investments in Company A & B had a fair value of $9,000 and $15,000,respectively.Assuming an existing $1,500 debit balance in Fair Value Adjustment - Trading Equity Securities,what is the unrealized gain or loss for these securities and how is it reported?
A) Unrealized Gain of $500,reported as part of Net Income.
B) Unrealized Gain of $3,500,reported as part of Net Income.
C) Unrealized Gain of $500,reported as part of Other Comprehensive Income.
D) Unrealized Gain of $3,500,reported as part of Other Comprehensive Income.
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