In 2018, Cromwell Corporation purchased bonds of Oliver Company at par for $300,000 and classified...
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In 2018, Cromwell Corporation purchased bonds of Oliver Company at par for $300,000 and classified the investment as available-for-sale. In 2019, the market value declined to $200,000. In 2020, the market value of the Fleming stock rose to $230,000, and the stock was sold. How much should Cromwell record as a realized gain or loss in its determination of net income for 2020
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