During Its First Year of Operation, Lenton Limited Acquired Three

Multiple Choice

During its first year of operation, Lenton Limited acquired three securities as trading investments. Investment A cost $50,000 and had a year-end fair value of $60,000. Investment B cost $35,000 and had a year-end fair value of $20,000. Investment C cost $26,000 and had a year-end fair value of $24,000. What amount should be reported as an unrealized loss in Lenton's income statement for the first year of operation?

A) $0
B) $7,000
C) $17,000
D) $27,000