Goofy Incorporated bought a sizeable amount of Crazy Company's bonds for $193,000 on
May 5, 2023, and classified the investment as available-for-sale. The market value of the
bonds declined to $118,000 by December 31, 2023. Goofy reclassified this investment as
trading securities in December of 2024 when the market value had risen to $156,000. What
effect on 2024 net income should be reported by Goofy for the Crazy Company bonds?