3. Redman Company's Equity Investment-P&L portfolio which is appropriately included in current assets is as follows: December 31, 2017 Fair Unrealized Cost Value Gain (Loss) Arlington Corp. 250,000 200,000 P(50,000) Downs, Inc. 245,000 265,000 20.000 P495,000 P465,000 P(30,000) Ignoring income taxes, what amount should be reported as a charge against income in Redman's 2017 profit or loss if 2017 is Redman's first year of operation? 4. On its December 31, 2016, balance sheet, Quinn Co. reported its investment in equity investment-OCI, which had cost P600,000, at fair value of P550,000. At December 31, 2017, the fair value of the securities was P585,000. What should Quinn report on its 2017 profit or loss as a result of the increase in fair value of the investments in 2017? 5. During 2017, Ellis Company purchased 20,000 shares of Hiller Corp. common stock for P315,000 as an equity investment-OCI. The fair value of these shares was P300,000 at December 31, 2017. Ellis sold all of the Hiller stock for P17 per share on December 3, 2018, incurring P14,000 in brokerage commissions. Ellis Company should report a realized gain on the sale of stock in 2018 of