On February 1, 2022, Price Energy entered into a futures contract to buy 5,000 barrels of oil at $53 per barrel. The contract specified delivery for May 1, 2022. Spot prices for crude oil during the contract period are provided below. Price of crude oil (per barrel) February 1 March 31 May 1 $53 $58 $56 At what amount would Price Energy report for the futures contract in its March 31, 2022 balance sheet? Futures Contract account balance as of March 31 $ 265,000