Working backward from data on marketable securities transaction. (Adapted from a problem by S. A. Zeff.) Dunne Year 3. Fischer/Black Co. purchased equity securities classified as securities available for sale. On Ma\ 22. Year 4. the company recorded the following correct journal entry to record the sale of the equity securities:

Cash (Asset Increase) 16,000 Retained Earnings (Realized Loss) (Shareholders' Equity Decrease) 5,000 Accumulated Other Comprehensive Income (Unrealized Holding Loss)

(Shareholders' Equity Decrease) 3,000 Marketable Securities (Asset Decrease) 18,000

a. What was the acquisition 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?