Lorraine Corporation's investment portfolio at the end of the year is as follows: Classification Security Cost Market Value Trading WalMart $5,0000 $8,000 Available for Sale Delta $5,000 $1,000 Trading Disney $5,000 $3,000 Available for Sale Microsoft $5,000 $11,000 At the end of the year, Lorraine's Balance Sheet will show :
A) an Unrealized Gain of $3,000
B) an Unrealized Loss of $1,000.
C) an Unrealized Gain of $1,000
D) an Unrealized Loss of $2,000.
E) an Unrealized Gain of $2,000.
Answer: E) an Unrealized Gain of $2,000.
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