One January 2 2016 Alpha Company purchased 10 000 shares of Bravo Company stock as trading securities for $10 per share. On July 3 2016 the securities were trading on the open market for $12.50 per share. On December 31 2016 the closing market price for these securities was $9.00 per share. What value should the trading securities be reported for Alpha Company’s FY 2016 balance sheet?
