Exercise 17-20 Presented below is information related to the purchases of common stock by Windsor Company during 2017. Investment in Arroyo Company stock Investment in Lee Corporation stock Investment in Woods Inc. stock Total Cost (at purchase date) $97,000 251,000 189,000 $537,000 Fair Value (at December 31) $77,000 301,000 198,000 $576,000 In addition, assume that the investment in the Woods Inc. stock was sold during 2018 for $205,000. At December 31, 2018, the following information relates to its two remaining investments of common stock, Investment in Arroyo Company stock Investment in Lee Corporation stock Total Cost (at purchase date) $97,000 251,000 $348,000 Fair Value (at December 31) $138,000 310,000 $448,000 Net income before any security gains and losses for 2018 was $959,000. (a) Compute the amount of net income or net loss that Windsor should report for 2018, taking into consideration Windsor's security transactions for 2018, assuming Windsor did not select the fair value option for investments in the Lee and Woods corporations. Net income or net loss that Windsor 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 are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2018 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT