In March of 2013,Mars Corp

question 76

Multiple Choice

In March of 2013,Mars Corp.bought 45,000 shares of Elite Corp.'s listed stock for $450,000 and classified the shares as available-for-sale securities.The market value of these shares had declined to $300,000 by December 31,2013.Mars changed the classification of these shares to trading securities in June of 2014 when the market value of this investment in Elite's stock had risen to $345,000.How much should Mars include as a loss on transfer of securities in its determination of net income for 2014?

• A) $0
• B) $45,000
• C) $105,000
• D) $150,000

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