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Please, i have a problem that i want answer for it if possible :-
At the end of year 1 , Lane co. held trading securities that cost £86,000 and which had a year-end market value of £92,000 . During year 2 all of these securities were sold for £104,500 . At the end of year 2 Lane Co. had acquired additional trading securities that cost £73,000 and which had a year-end market value of 71,000 . What is the impact of these stock activities on Lane‘s year 2 income statement ?
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