Realized gains and losses on investments available for sale are reported

A) as a current asset
B) on the income statement
C) on the balance sheet as part of stockholders' equity
D) as a contra asset

Realized gains and losses on investments available for sale are reported on the income statement. This is because they represent a change in the value of an asset, which is considered a revenue or expense. They are not reported as a current asset on the balance sheet, as they are not cash or cash equivalents that can be readily converted to cash. They are also not reported as part of stockholders' equity, as they do not represent an ownership interest in the company. Finally, they are not reported as a contra asset, as they do not offset the value of another asset account.