On January 1, 2014, Blanton Company's Valuation Allowance for Trading Investments account has a debit balance of $23,200. On December 31, 2014, the cost of the trading securities portfolio was $80,000. The fair value was $98,000. Which of the following would Blanton report on the income statement for 2014?
A) an Unrealized Loss on Trading Investments of $5,200.
B) an Unrealized Gain on Trading Investments of $5,200.
C) an Unrealized Gain on Trading Investments of $18,000.
D) an Unrealized Loss on Trading Investments of $18,000.
Correct Answer:
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