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A Recent Annual Report of Fargo Company Includes the Following

Question 1

Essay

A recent annual report of Fargo Company includes the following footnote related to its trading securities:
A recent annual report of Fargo Company includes the following footnote related to its trading securities: Required a. What amount will Fargo report for trading equity securities on the balance sheet? Explain. b. What do the unrealized gains and losses represent on these trading securities? c. How do these unrealized gains and losses affect Fargo's income statement?
Required
a. What amount will Fargo report for trading equity securities on the balance sheet? Explain.
b. What do the unrealized gains and losses represent on these trading securities?
c. How do these unrealized gains and losses affect Fargo's income statement?

Correct Answer:

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