Dicker Furriers purchased 4,200 bonds of Loose Corporation on January 10, 2017, for $350 per bond and classified the investment as securities available for sale. Loose's market value was $200 per bond on December 31, 2017, and the decline in value was viewed as temporary. As of December 31, 2018, Dicker still owned the Loose bonds whose market value had declined to $120 per share. The decline is due to a reason that's judged to be other than temporary. Dicker's December 31, 2018, balance sheet and the 2018 income statement would show the following: Investment in Loose stock Income statement loss on investments
a. 504,000 966,000
b. 504,000 336,000
c. 840,000 0
d. 1,470,000 966,000
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