16 At December 31, 2021, Jeter Corporation had the following debt securities that were purchased during 2021, its first year of operation: Fair Unrealized Cost Value Gain (Loss) Trading Securities: Security A $ 85,000 $ 65,000 $(20,000) B _15.000 20,000 5.000 Totals $100,000 $ 85,000 $(15.000) Available-for-Sale Securities: Security Y $ 70,000 $ 80,000 $ 10,000 z _85.000 55.000 _(30,000) Totals $155.000 $135,000 $(20.000) All market declines are considered temporary. Fair value adjustments at December 31, 2021 should be established with a corresponding charge against Income Stockholders' Equity a. $40,000 $ 0 b. $25,000 $30,000 C. $15,000 $20,000 d. $15,000 $ 0 17.. On December 29, 2022, James Company sold a debt security that had been purchased on January 4, 2021. James owned no other debt securities. An unrealized holding loss was reported in the 2021 income statement. A realized gain was reported in the 2022 income statement. Was the debt security classified as available-for-sale and did its 2021 market price decline exceed its 2022 market price recovery? 2021 Market Price Decline Exceeded 2022 Available-for-Sale Market Price Recovery a. Yes Yes b. No C No Yes d. No No -7