Glover Buys and Sells Securities and Typically Classifies Them as Available

Glover buys and sells securities and typically classifies them as available for sale.On December 15,Glover purchased $700,000 of Mooney Corporation shares and elected the fair value option to account for the investment.As of December 31,the shares in Mooney Corporation had a fair value of $675,000.In its December 31 financial statements,Glover will report pretax ________.

A) Investment loss of $75,000 in its income statement.
B) Other comprehensive income/loss of $25,000.
C) An investment in Mooney Corporation of $700,000
D) Accumulated other comprehensive income of $675,000

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