On December 31, 2006, Nance Co. purchased equity securities as trading securities. Pertinent data are as follows:
Security Cost Fair Value At 12/31/07
A $132,000 $117,000
B $168,000 186,000
C $288,000 258,000
On December 31, 2007, Nance transferred its investment in security C from trading to available-for-sale because Nance intends to retain security C as a long-term investment. What total amount of gain or loss on its securities should be included in Nance's income statement for the year ended December 31, 2007?
What formula or steps do I follow to arrive at $27,000 loss?