24. The ABS Company purchased 1,000 Company X bonds on December 1, 2020 for P1,050 per bond. When it purchased these bonds, ABS did not intend to sell them in the short-term in order to raise cash nor to hold onto them until maturity (AFS). It purchased 200 shares of Company Bs stock at P50 per share on December 3, 2020 for trading. Company B has issued 5,000,000 shares of stock. At the end of December, Company Bs stock was selling for P52 per share and Company Xs bonds were selling for P1,000 per bond. How would these transactions be reflected on ABS' financial statements issued as of December 31, 2020?

a. Investments in bonds should be recorded at amortized cost while Investment in stocks should be at fair value; recognize an unrealized gain of P400 on the Statement of profit or loss, and an unrealized loss of P50,000 on the statement of other comprehensive income

b. Investments in bonds should be recorded at amortized cost while Investment in stocks should be at fair value; recognize an unrealized loss of P49,600 on the statement of other comprehensive income

c. Both investments should be recorded at fair value and recognize an unrealized gain of P400 on the Statement of profit or loss, and an unrealized loss of P50,000 on the statement of other comprehensive income

d. Both investments should be recorded at fair value and recognize an unrealized loss of P49,600 on the statement of other comprehensive income