On its December 31, 2018, statement of financial position, ABC Co. reported its investment held for non-trading securities, which had cost $600,000, at a fair value of $550,000. On December 31, 2019, the fair value of the securities was $585,000.

What amount of unrealized gains/losses should ABC report on its 2019 equity section in 2019 statement of financial position as a result of the increase in the fair value of the investments in 2019?

Select one:

a. 0

b. Unrealized gain of $35,000

c. Unrealized loss of $15,000

d. Unrealized gain of $35,000

What amount of unrealized gains/losses should ABC report on its 2019 as a component of comprehensive income statement (Fair Value Adjustment) as a result of the increase in the fair value of the investments in 2019?

Select one:

a. Unrealized loss of $15,000

b. Unrealized gain of $35,000

c. Unrealized gain of $15,000

d. Unrealized loss of $35,000