A not-for-profit hospital purchased an equity security for $150,000 on September, 2012 . When it prepared its 2012 financial statements, the security had a fair value of $145,000 . It sold the security for $160,000 in 2013
What was the net effect of the sale of the security on the hospital's net assets in the year 2013?
a. no effect
b. an increase of $10,000
c. an increase of $15,000
d. an increase of $160,000
c
Business
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