Logic Company did not own any debt or equity investments at January 1, 2022. During...
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Logic Company did not own any debt or equity investments at January 1, 2022. During 2022, Logic purchased 17,300 shares of Irrational, Inc. for $32.35 per share as a passive investment. During the year, Logic sold 9,400 shares of those shares for $34.10 per share. At December 31, 2022, the market price of Irrationals stock was $31.95 per share. Required: For its investment in Irrational Inc. stock,
determine the total amount of unrealized gain/(loss) that Logic will report as part of Net Income for the year ended December 31, 2022.
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