Working backward from data on marketable securities transaction. (Adapted from a problem by S. A. Zeff.) During Year 3. Fischer/Black Co. purchased equity se- curities. On May 22, Year 4, the company recorded the following correct journal en- try to record the sale of the equity securities:

Cash. 15,000 Realized Loss 5,000 Unrealized Holding Loss 3,000 Marketable Securities 17,000

a. What was the original cost of these securities in Year 3?

b. What was the market value of these securities at the end of Year 3?

c. What is the total amount of securities gain or loss that Fischer/Black reports on the income statement for Year 4?(Appendix)

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Cash. Realized Loss Unrealized Holding Loss Marketable Securities 15,000 5,000 3.000 17,000