Hi tutors, can I ask for the detailed solution and explanation of this please? Thank you.

BABY Corporation has been undergoing liquidation since January 1. As of June 30, its condensed statement of realization and liquidation is presented below:

Assets realized P 348,200

Interest on equity investment 13,500

Interest on bond investment 12,000

Cost of sales 52,500

Assets acquired 123,200

Liabilities assumed 16,000

Payment of expenses of trustee 15,250

Liabilities to be liquidated 238,000

Sales on account 36,600

Assets not realized 182,800

Liabilities not liquidated 75,000

Sales for cash 28,100

Assets to be realized 485,300

Liabilities liquidated 179,000

20. The net gain (loss) on realization and liquidation sn:

a. 55,050

b. (55,050)

c. 79,050

d. (79,050)