In 2018, Cookies n' Cream reported a loss for book purposes of ($150,000). During 2018 , Cookies n' Cream had an estimated loss of $20,000 from a loss contingency. They also sold an investment during 2018 for which they accrued an unrealized gain of $10,000 in 2017 from increasing investments to fair value. Cookies n ' Cream also had $5,000 in expenses for insurance premiums for key executives. Cookies n ' Cream had no taxable income in 2017. The tax rate is 40% 16. What is Cookies n' Cream's taxable loss? A. ($125,000) B. ($115,000) C. ($135,000) 17. What is Cookies n' Cream's net loss to be reported on the income statement? A. ($96,000) B. ($204,000) C. ($107,000) D. ($100,000)