Goofy Inc. bought 15,000 shares of Crazy Co.'s stock for $193,000 on May 5, 2005, and classified the stock as available for sale. The market value of the stock declined to $121,000 by December 31, 2005. Goofy reclassified this investment as trading securities in December of 2006 when the market value had risen to $162,000. What effect on 2006 income should be reported by Goofy for the Crazy Co. shares?
A) $0.
B) $31,000 net loss.
C) $41,000 net gain..
D) $72,000 net loss.