Surface Company purchased 1,000 bonds of Slick Company in 2018 for $760 per bond and classified the investment as securities available-for-sale. The value of these holdings was $260 per bond on...

Extracted text: Surface Company purchased 1,000 bonds of Slick Company in 2018 for $760 per bond and classified the investment as securities available-for-sale. The value of these holdings was $260 per bond on December 31, 2019, and $444 per bond on December 31, 2020. During 2021, Surface sold all of its Slick bonds at $380 per bond. In its 2021 income statement, Surface would report: Multiple Choice A trading gain of $64,000 and an unrealized holding loss of $380,000. A loss on the sale of investments of $380,000. A recognition of unrealized holding losses of $260,000. A realized gain of $64,000. < prev="" 14="" of="" 16="" next="">