During Its First Year of Operation, Snapper Limited (A Public

Multiple Choice

During its first year of operation, Snapper Limited (a public company) acquired three securities as trading investments.Investment A cost $75,000 and had a year-end fair value of $80,000.Investment B cost $42,000 and had a year-end fair value of $26,000.Investment C cost $32,000 and had a year-end fair value of $30,000.What amount should be reported as an unrealized loss in Snapper's statement of income for the first year of operation?

A) $0
B) $13,000
C) $18,000
D) $23,000