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On its December 31, 2003, balance sheet, Quinn Co. reported its investment in available-for-sale securities, which had cost $360,000, at fair value of $330,000. At December 31, 2004, the fair value of the securities was $355,000. What should Quinn report on its 2004 income statement as a result of the increase in fair value of the investments in 2004?

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Accounting Basics, Accounting

Category:- Accounting Basics
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