Question: On January 1, 2018 M.T. Glass purchased the following investments: 1. 7,000 shares (representing 12%) of ZZ Company stock for $14 per share 2. 20,000 shares (representing 40%) of AA Company stock for $22 per share M.T. Glass recorded the sale of some of its investments in 2019 as follows:
1. September 1 sold 4,000 shares of the ZZ Company stock for $19 per share
2. December 31 sold 5,000 shares of the AA Company stock for $30 per share AA Company and ZZ Company reported the following information for 2018 and 2019: AA Company ZZ Company Net income in 2018 $200,000 $260,000 Dividends paid to M.T. Glass in 2018 $42,000 $15,000 Market value at Dec 31, 2018 $27 per share $21 per share Net income in 2019 $160,000 $225,000 Dividends paid to M.T. Glass in 2019 $14,000 $5,000 Market value at Dec 31, 2019 $24 per share $28 per share Calculate the unrealized gain or loss reported in M.T. Glass' 2019 income statement. If it is a loss, put a negative sign in front of your answer (i.e., -5,000). Do not put a space between the minus sign and the number. If it is a gain, do not enter a negative sign in front of your answer (i.e., 5,000). Do not use decimals in your answer or type the word gain or loss after your answer.