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Business, 23.12.2020 16:40 daedae11142

On December 30, 2018, Varsity Corporation sold available for sale marketable securities costing $800,000 for $860,000 cash. The securities were purchased on January 2, 2016 and the market value of the securities on December 31, 2016 and December 31, 2017 was $820,000 and $780,000, respectively. How much gain or loss will Varsity report in its income statement for the year ending December 31, 2018

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