Hollister companys trading securities portfolio which is, Ask an Expert

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Hollister Company's trading securities portfolio, which is appropriately included in current assets, is as follows on December 31, 2013: Meyer Corporation - cost of $400,000 and fair value of $325,000; Fischer Corporation - cost of $500,000 and fair value of $535,000. Ignoring income taxes, what amount should be reported as a charge against income in Hollister's 2013 income statement if 2013 is Hollister's first year of operation?

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