Exercise 17-20 Presented below is information related to the purchases of common stock by Indigo Company during 2017 Cost at purchase date Fair Value at December 31 Investment in Arroyo Company stock Investment in Lee Corporation stochk Investment in Woods Inc. stock $90,000 267,000 163,000 $520,000 $72,000 317,000 174,000 $563,000 Total In addition, assume that the investment in the Woods Inc. stock was sold during 2018 for $178,000. At December 31, 2018, the following information relates to its two remaining investments of common stock Cost at purchase date Fair Value at December 31 Investment in Arroyo Company stock Investment in Lee Corporation stock $90,000 267,000 $357,000 $130,000 327,000 $457,000 Total Net income before any security gains and losses for 2018 was $825,000 (a) Compute the amount of net income or net loss that Indigo should report for 2018, taking into consideration Indigo's security transactions for 2018, assuming Indigo did not select the fair value option for investments in the Lee and Woods corporations Net income or net loss that Indigo should report for 2018 (b) Prepare the journal entry to record unrealized gain or loss related to the investment in Arroyo Company stock at December 31, 2018. (Credit account titles